Nifty Future trading plan

[mando25]

Update -
No change in Positional trade. Stoploss remains the same at 5085. Intraday, none of the scenarios played out.

Trade Analysis of Tuesday -
1. Nifty future close up 32 points on good volumes
2. 5090 level again acted as a support
3. Bell shaped curve in market profile today. VAL, POC and VAH are 5108, 5118 and 5128
4. Ma. volumes traded in 5118 to 5128 zone

Trade Plan for Wednesday -
1. Positional long bought at 4925, stoploss revised to 5085. Reverse to sell below this level (closing)
2. Aggressive Intraday Long if opens or goes below 5135, and then breaks 5135 on upside. targets 5155 and 5175. Stoploss 5115
3. If opens above 5135 or below 5090, no intraday trades, except for condition 2
4. If breaks below 5090 (5 mins closing), Sell with stoploss above 5110. target 5060 and 5030

 

[mando25]

Trade Analysis for Friday -
1. Nifty futures closed up nearly 140 points on higher volumes
2. Breakout has happened from range of 5090 to 5190. Trend is up. Swing low updated to 5150 (below gap level)
3. Addition in put option of 5200 and 5300 - positive. Also addition in calls of 5400 and above.
4. Options data suggest support at 5000
5. Max. volumes at 5286 nifty future.
6. Market profile level, 5271, 5285 and 5299. P shaped profile, indicating short covering
7. The upmove can stretch till previous high volumes areas of 5350 and 5390/5400 before any pause

Trade plan for Monday -
1. Hold on to positional longs bought at 4925 with revised stoploss at 5150.
2. If it dips in morning trades towards 5270, buy with 20 point stoploss, for 5300 and 5330
3. If opens above 5300 and sustains for 15 mins., buy near 5300/5310 with stoploss below 5290. Target 5330 and 5350

 

[gunsho]

2. Breakout has happened from range of 5090 to 5190. Trend is up. Swing low updated to 5150 (below gap level)

Appreciate if you can explain (probably with a graph) on how 5150 is a swing low? If you take the major swing, it is still ~5190. If you take the minor ones in the last 4 days, it is still ~5120.... Thanks.

 

[mando25]

@gunsho
You are right. Swing low is at 5120. It will be updated to 5130 and 5149 on subsequent days. I dont go by the absolute swing lows, but work on the volumes of trade to arrive at levels near the swing highs/lows. These high volumes areas are presently near 5190/5185 and 5150 area. I have taken the stoploss at 5150 for now, as the level is below the gap area of 5150-5215, and also below 5215, gap open for nifty future. I will straightaway jump to 5185 once it is protected on any downswing. Or else, if any new level develops, then will update accordingly.

 

[mando25]

Update -
Nifty futures dipped to 5278 in morning, longs would have done target. Plan 3 trade above 5300, missed target by 5 points and hit stoploss.

Trade Analysis of Monday -
1. Nifty futures closed flat on low volumes.
2. Max. volumes traded around 5291 level
3. In options, put addition at 5100 and 5200 - positive. Call addition at 5300 and higher strikes - negative.
4. Options point to major support at 5000.
5. VAL, POC and VAH as per market profile - 5283, 5294 and 5305.

Trade plan for Tuesday -
1. Hold on to positional longs bought at 4925 with revised stoploss at 5150.
2.Aggressive longs above 5310 with 20 point stoploss. Targets 5330 and 5350
3. Aggressive sell below 5270, with 20 point stoploss. Targets 5250 and 5230

 

[DanPickUp]

Hi Guys,

I trade Nifty futures and have been making mental plans everyday till now. I plan to put these plans to paper through this thread. lets see how it goes.
I use the following setups for trading -
1. Swing trades based on hourly charts of Nifty Futures - mainly for positional trading
2. Market Profile 15 min. charts for Intraday and for analyzing the market information
3. Wolfe Waves or intraday/ positional
4. For intraday trades, I also use stochastics after seeing the opening as per MP
5. Nifty Options open interest
6. Trendlines/ Channels on Daily charts

Will put up my trading plan shortly.

Thanks!

Never show your trading plan in an open forum if it makes money If not, move on :lol:

As you did: Look at your results.

Hope you get my point as I may be a ..................

Good trading

DanPickUp

 

[mando25]

Update -
Buy in morning reached target 1. Second buy above 5310 hit stoploss. Sell level missed by 1 point. Positional long remains.

Trade Analysis for Tuesday -
1. Nifty futures closed marginally up, on low volumes. But lower than the open.
2. Max. volumes traded at 5308 level. Consider it pivot from tomorrow.
3. In options, further addition in put options of 5200 and 5300. Some addition in calls of 5300 and 5400 also.
4. Market profile level - 5299, 5309 and 5319.

Trade plan for Wednesday -
1. Hold positional longs bought at 4925 with stoploss at 5150
2. Aggressive longs above 5335 nifty future with 20 point stoploss. Targets 5355 and 5390
3. Aggressive shorts below 5270 future. Stoploss 5290. Targets 5250 and 5230

 

[mando25]

Update -
Intraday trades did not activate. Positional trade remains.

Trade analysis for Wednesday -
1. nifty futures closed up 20 points on low volumes.
2. Doji on daily charts. Breakout from he range of today can give good movement
3. In options, more addition in puts of 5200 and 5300 - positive. Big addition in calls of 5400. slightly negative.
4. Max. volumes traded at 5322, 5310 and 5297.

Trade plan for Thursday -
Same as Wednesday

 

[mando25]

Update -
Intraday buy above 5335 did target 1 (missed by 0.5 paise). Positional long remains.

Trade Analysis for Thursday -
1. Nifty futures closed up 18 points on low volumes
2. Max. volumes traded at 5344 and 5317 level
3. In Options, further addition in puts of 5200 and 5300 - positive. Also addition in calls of 5500 and 5600 - Far off. Not to be considered now.
4. Market profile levels - 5307, 5317 and 5345
5. Trend positive above 5200. Observation - Nifty has not had a monthly closing below 5200 this year, except for the month of May. On medium term, better to trade Longs above this level and think of shorts only below 5200.

Trade Plan for Friday -
1. Update stoploss for positional longs bought at 4925 to 5200. Below 5200, nifty may go for gap filling. Will think of shorts only after nifty gives a closeing below 5150.
2. Long trade above 5345 (15 min. closing) with 20 point stoploss. Targets 5370 and 5400
3. SHort trade below 5270 with 20 point stoploss. Target 5250 and 5230.
4. Aggressive short trades can also be taken below 5290. but will think about it based on intraday setup.

 

[mando25]

Hi All,

Have cut down on intraday trades due to dip in volatility and selling Put options of 5100 and 5200 instead. Exit level for these are at 5250.

Holding positional longs bought at 4925 with stoploss at 5250.