• The levels are marked as Buy, Sell or Buy/Sell. At levels marked Buy/Sell you can take long and short trades.
• Trades are executed after two minutes from open, i.e. after 9:17 and usually one trade per day. Only take the first trade that comes after open.
• After open, watch the levels and current price. Only the first trade is executed. If a level says Buy and if price is above that level, then buy on a pull back to that level. If price is below that level, wait for a break above that level, and buy on a pull back to that level. If a level says Sell and if price is below that level, then sell when price reaches that level. If price is above that level, wait for a break below that level, and sell on a pull back to that level. If the level says Buy/Sell, then if price is above that level, buy on a pull back; if price is below that level, sell when price reaches that level.
• Usually only one trade is executed on a day. However if stopped out in the first trade, then take the trade at the next level also.
• Breakout is determined on the basis of closing price on a 2 minute chart. Close should be clearly above or below the level. If you do not have a chart, wait for price to trade above below the level for 1 or 2 minutes to validate breakout.
• Do not expect entry at the exact level, execute trades near the levels. SL is calculated from the level, not from the entry price.
Date: 28-11-2011 Symbol: NIFTY Fut
Directional Sentiment: Sideways SL/target: 12/30
Level Comments
4767-4772 Buy/Sell
4705 Buy/Sell
4766 Buy/Sell
