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