iCharts Discussions

[psalm]

Hi,

I'm expecting the Nifty to go down further. I will be watching the area 4620-4600 (spot levels) very carefully. If there is any breach of this level, I'll definitely be opening fresh shorts. I expect the Market to be under severe pressure, if that area is broken. On the upside, one can sell Nifty Future around 4690-4695 (future rate) area with stop-loss just above 4710 (future rate), I believe. If the market goes there, I'll be Shorting the market..... expecting lower levels.



!!!!!!!2011 is gone as far as the Derivatives are concerned. Let's hope that the next year will be more prosperous than this year. Happy Trades!!!!!

[psalm]

I have shorted Nifty around 4690-95 range and my Stop-loss is 4715 (all Nifty Future Levels). First target for the day is 4652.

[vinay28]

why did you shift to nf levels? ur spot levels were better e.g. 4715 as SL on spot is better

[psalm]

Vinay,

I felt that the Nifty future levels should be the one to consider today. By the way, the area of support 4620-4600 I have mentioned in my previous message is Sport level. However, if you ask me any spot levels as resistance for the day, it will be the 4705-4710 area. However, i didn't want my stop-loss to be that far....that's y i have opted for the future levels today. With future levels, I have a stop-loss just around 4710 levels. I'm more comfortable with that.

[vinay28]

sure but did you get these levels for nf directly or first from spot and then added premium?

[psalm]

I don't usually find the levels by adding the premium to the spot levels. Its not efficient at all. The premium can be really volatile, as all know. I'll be using either Nifty Spot levels or Nifty Future Levels, not both.

[psalm]

Nifty Future has made a Low of 4652. For intra-day traders, they can book partial profit around 4635 (spot) or 4652 (future price) whichever comes first. However, for those who wants to hold the Shorts further, then can now change the Stop-loss to 4695 (Future price).

[psalm]

Those who hold the Nifty SHORTs, can modify their Stop-loss to 4676. However, if the Nifty goes below 4620, you can modify the stoploss again to 4653. I expect 4600-4620 area to provide some kinda support to the market. However, the overall market is quite weak. Let's see how it goes.

[psalm]

Hi,

!!!!!!!! Greetings for the New Year. !!!!!!!!!!!


The markets opened with a small Gap Up. The support for the day exists at 4590-4578 range. While the area 4670-4690 (all spot levels) area will provide resistance for the day. If somebody interested in Intra-day trading, he/she can SHORT the market around 4570 with a stop-loss above 4590 for a target of 4590. I believe that its better to sell the markets at higher levels than to buy it from lower levels. However, if somebody wants to buy the nifty, they must wait for the market to come down to around 4590. The stop-loss here should be just below 4578 (all spot levels).

As far as the Nifty Future levels are concerned, one can buy it in the range 4605-4590 with stop-loss just below 4580. The targets are 4650/4680. Otherwise, one can sell it in the range 4675-4690 with stop-loss above 4700. The targets for the shorts are 4620/4580.

Happy Trades

[psalm]

[Nilay]

Hi psalm very good view.I always view your posts.good analysis.
Thanks
Nilay

[psalm]

Thanks Nilay....I am grateful for your comments....


By the way, those who are holding the LONG can now modify the stop-loss to 4619 (Future rate). The first target is at 4650 and the second target is at 4580.

[vinay28]

u mean 4680

[psalm]

Trailing Stop-loss triggered for the Nifty LONG at 4619.

[psalm]