Trading Nifty without Nifty

Discussion in 'Trading Diary' started by ajeetsingh, Nov 17, 2016.

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  1. ajeetsingh

    ajeetsingh Well-Known Member

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    As expected
    Nifty took crucial support at around 7925

    [​IMG]
     
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  2. ajeetsingh

    ajeetsingh Well-Known Member

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    BankNifty Future

    Wont Trade



    Nifty Future

    Today also I expect selling pressure at higher levels
    R1=7975, R2=8005, R3=8055, R4=8085 (if it stays abv R2)
    At higher levels think twice before buying
    S1=7950, S2=7920, S3=7885, S4=7850
    Today I will be highly cautious to trade in nifty...
    Rather I am keeping eyes open at IT stocks like Techm, Mindtree, Hexaware or Justdial
     
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  3. ajeetsingh

    ajeetsingh Well-Known Member

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    Today I was biased on shorting side
    Nifty traded abv resistance of 7975 in starting mins
    Then took resistance at around 8010 at 9.30 for sometime
    then as it started falling from resistance of 8005
    I shorted at market price 8002.30
    covered just now at support of 7950

    Gain: 52 points
    Total since 18 Nov 2016= 101 points

    Done some bad trades in Cash, will post as soon as I square off.
     
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  4. ajeetsingh

    ajeetsingh Well-Known Member

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    [​IMG]


    Earned just to cover Brokerage
    So in Cash NPNL today
    Anyhow happy to have day green...
     
  5. ajeetsingh

    ajeetsingh Well-Known Member

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    Before opening I was determined to trade only in IT stocks as they were in News too but Don't know what happened to me
    As ONGC & ADANI are in top gainers list and nifty was 1% up,
    I took trade when they were nowhere near support or resistance.
    Then further trapped myself in Infratel, sunpharma...
    I made positions at 9.17am itself
    It was 9.35 amd, when I realised my mistake and took reverse trade in Nifty and reversed ONGC that covered my big loss.
    Then Sunpharma reverse buy at exactly pivot was also wonderful trade to cover loss

    In pressure hours/ Market hours
    Usually I forget all my rules and some new rules erupt at deep beneath my mind. :lol:
     
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  6. angira

    angira Well-Known Member

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    Nice thread and good trading Ajeet

    angira...
     
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  7. sreperu

    sreperu Active Member

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    Over the time it will be stabilized. Practice is the only thing what we can do...

    Sent from my Lenovo K50a40 using Tapatalk
     
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  8. ajeetsingh

    ajeetsingh Well-Known Member

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    Done a sample trade with real money
    Bought CrudeOil @ 3344
    as 3300 was good resistance and it was broken
    Lets see...
     
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  9. young.trader

    young.trader New Member

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    why don't you trade in options? Considering above trade you would have bought 7900PE @ 20 and exited at 32 i.e. more than 50% profit. You can surely give it a try. Even the money invested would have been only 1500 per lot.:thumb:
     
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  10. ajeetsingh

    ajeetsingh Well-Known Member

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    Our Broker Charge 9500 for Nifty (Intraday)
    Earning 52 points that is 3900 on 9500 is 41%
    Thats also not a bad deal....
    Main reason is.... when I traded options, I felt that many times they re driven by news so many times if they are at same distance from spot levels, even then they move at different pace. If sentiments are high then for every change of 1 point higher they move at higher pace say 0.9 times
    and when sentiments are low then for every change of 1 point higher they move at lower pace say 0.6 times
    Its very difficult for me to judge
    Secondly, we cant find support and resistances of options
    Now trading options by looking at futures is very awkward as premium of futures also varries
    Like after a sell at 8005, i can place bid of 7950 but I cant place bid on 7900PE as I dont know what will be rate then...
    I found No solution of these probs so I left options
    Moreover, its tough to follow levels and place trade simultaneously during market hours, for that my friend places order in his account and i judge levels and in cash he choose stocks and I place order in my account. He's OK with futures only, its hard for him to quickly place trade choosing right PE or CE and strike.
    Thats why..... :thumb:
     
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