Nifty Futures Trading on 27th August

Nifty Futures opened Gap down near 5410 and traded near 5400 mark. Though the Index was near support level, "Initiated" short trade @ 5402 with 5423 as Stop Loss. Trade moved into profit and "locked" partial profit @ 5382. Then the move down was "swift" and we trailed Stop Loss protecting profits. The Trailing Stop Loss was hit to "Throw us Out" of trade @ 5320. A Good Trade completed. A dead cat bounce ensued taking the Index to 5350. Failed to "initiate" another Short trade near 5340 levels. The down move went below 5300 all the way to 5256. A "Big Miss" indeed.

Views for 28th August

The Index is near "Fibonacci" Support levels. But let us believe in Reality as far as Intra Day trading is concerned. 

Views for 14th August

Nifty hits target 5688 - 90 and closes above it. Next Resistance for Nifty Futures comes at 5740 and then 5830. Supports now around 5690-80 then 5660-50.

Bank Nifty Futures forms a Bullish Engulfing Candle. Beaten down Big Boy "SBI" yet to participate.

Nifty Futures trading views for 20th May

Nifty Futures faces resistances at 6210 - 6220 and 6270 - 6290 bands. Immediate supports available between 6160 - 6150 then between 6120 - 6110. Buying on Dips or on reversal from 6110 are better trading opportunities. Nifty looks overbought on Daily Charts hence Buy on Dips. Break of 6110 on Nifty will be an indication to exit Longs on the Index for the short term.

NF Intra Day Trade - 11th May

Nifty Futures opened around 6100 on the special Saturday trading session. Went long @ 6104 but did not initiate as the session was only for 1 and 1/2 hours and low volumes was the norm. Booked profit @ 6129 around close at 12.45pm

NF Intra Day Trade - 10th May

Nifty Futures opened just above 6050 and traded positive. Wanted to go long @ 6058-60 but resisted as IIP data was expected @ 11am. But view was right as NF moved to 6085. After IIP data weakness noticed but could not initiate timely shorts. NF reversed from 6085 to 6045. But both moves were not very big to hurt us. Went long @ 6056. Though slow to start with the "Big" move materialised. Part booked @ 6076 and trailed Stop as usual. NF crossed 6100 and cooled off slowly from 6108 to Stop us out of trade @ 6089.9 and again sharply moved to 6118. We are near previous "Swing High" @ 6120 on NF. 

NF Intra Day Trade - 9th May

Nifty Futures opened at 6090 (also the high for the day) and gradually declined to 6048. A decline of 40 points looks like a "Missed" opportunity. Went long on NF @ 6058. NF reached 6085 and reversed and stopped us out @ 6069.9. Then NF traded between 6070 - 6080. Saw a sudden Sell-off late in the day to 6038 and back to above 6065 to close @ 6048.95. The late volatility it seems is trying to communicate something.  See U tomorrow.

NF Intra Day Trade - 8th May

Nifty Futures opened @ 6067.20 and made a high of 6070.85 in morning trade. Went short at 6060 and booked partial at 6038. Hits 6025 which was our 2nd target, but trailed stop to 6045 (expecting further weakness). Trailed Stop at 6045 hit and Nifty Futures went till 6090. Reverse trade around 6040 missed as already on short and later for better risk to reward ratio. But still the "Miss" was Big.

NF Intra Day Trades - 22nd April

Nifty Futures opened @ 5816.30 and moved up to 5831 before reversing to 5792. Thought of initiating Sell around 5822 but missed. Nifty Futures again moved up and then down. Initiated Buy @ 5800 and booked part @ 5815 and then trailed Stop Loss and closed trade with profit @ 5834 near market close.

NF Intra Day Trades - 18th April.

Nifty Futures opened @ 5720 (not on charts). Traded around 5707 for a while and went down to 5790. Buy identified @ 5695 but not initiated as 5700 was within touching distance. Buy initiated @ 5700. Upmove faced resistance between 5715 - 20. Part booked around 5712. Then Nifty Futures hits 5730. Trailed Stop Loss to 5718 and was hit. Later thought of initiating Buy again around 5716 but did not "pull the Trigger". It proved costly as subsequent move took NF past 5757 to 5795. 

NF Intra Day trades - 17th April.

Nifty Futures opens @ 5710. Goes down below 5700 and stages a smart recovery. Small Sell and Buy done with profit. Good Sell trade identified around 5722 and initiated. Trade moved into Profits swiftly. Part Booked around 5700. Was trying to ride Profits and succeeded till 5685. Slow data feed on Charts played havoc - the last thing a Chartist needs. Missed a small upmove till 5715.   

NF Intra Day Trading 2nd April

Nifty Futures opened @ 5711 and reversed from 5725 to 5705. Shorts seen from around 5715 could not push the Index Futures below 5700. Initiated Buy @ 5717 around 11.07 am. Bit of a struggle warned to reduce Stop from sub 5700 levels to just below days low (Ego conquered). Then the expected move materialized. Momentary lapse in concentration (good excuse for Fear) made sure that part profit was only 15 points @ 5732. Then trailing Stop Loss gradually leads to 5662.9 (Day High 5773.35). Well almost time for the day which means "Fear & Greed" conquered for the Day.

Technical Analysis - particularly Intra Day - is all about Reality. The Reality Shows begins @ 9.15 am tomorrow. 

NF Intra Day Trades - 1st April

Nifty Futures opened at 5716 and hit a high of 5724 and low 5708 during early trade. Initiated Buy @ 5718 at 9.42 am and Booked Partial Profit @ 5740. Stop Loss modified to 5721 for balance trade (thought of Exiting trade @ 5728) and was hit. 

NF trade on 15th March 2013

Nifty popped up in early trade, but resisted @ 5946 as indicated by us. The decline happened till 5861 and closed closed near the lows at 5875. Hope traders were able Short and make decent profits.

NF after crossing 5960 reversed. Shorting below 5920 yielded good profits as NF declined to 5880. Traders on Long above 5960 lost 20 pts, but were amply compensated by the Short Trade. For traders following Nifty Spot "Long" initiation never happened.

NF views for 15th March 2013

Nifty has formed a Big Bullish Engulfing Candlestick on Daily Charts. But it faces Strong resistance @ 5946. Strong move above 5950 will be a cue to initiate fresh longs. Inability to take out 5946 will result in decline.

Longs can be initiated with a 20pts Stop Loss if Nifty Futures crosses 5960. NF faces Stiff resistance from 5990 - 6000. On the way down NF can be shorted below 5920 with 20pts Stop. Below 5886, declines will accelerate.

Disclaimer: Views expressed though Technical in nature are bound to change dynamically during market hours. Loss of Capital is substantial in Derivatives trading.  

NF Intra Day Trading on 11th March

Missed Selling @ opening. Bought NF @ 5963 as selling stalled and reversed. Quick upmove. Part booked @ 5983. Stops modified to 5973. NF hits Stop and goes down.

No trading done on 12 - 14th March. 

Missed Buying NF around 5907 as it shot up to 5916 in early trade. Failure to move beyond 5932 resulted in Momentum Loss. Shorted at 5926 (SL 5942). Formed a rectangle between 5930 - 5920. Break of Rectangle on the Downside. Was a expecting a move to 5900 (at the least). But NF reversed near 5910. Booked part at 5911. Exited Shorts @ 5916. Went long around 5920, as "Price rejection" near 5910 was fast. Break of Day high lead to a beautiful Upmove. Expecting Previous High (Congestion) of 5979 as resistance. Just over shot 5979 and "High" rejected.   

8th March NF Intra Day Trade