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.