Urgent Help Needed - May Futures SHORT

Hi Respected Seniors/Members of the group....... I have a May Minifty futures SHORT of 5 lots averaged at 3435.

With the way market had reacted today, i am really worried about the investment.

Please someone suggest me if i should HOLD this or should i SQUARE-OFF and go with the trend.

eagerly awaiting your response

Futures means unlimited loss, and as you rightly said, you are against the trend. You must have had some stop loss in mind for getting out of trade if market goes against you...... So is that not hit now???

You have committed two mistakes,one is you traded against the trend and second is you did not cut your loss. I suggest cut your loss immediately and wait for trend change to down for going short. Again there also keep a stoploss.

Best luck....

Smart_trade

Brother, did you not raise a similar query 10 days ago? How did you overcome it? I am referring to your thread: http://www.traderji.com/futures/28321-nifty-may-futures-need-help-guidance.html#post302833

Hi !

I don't blame you. Getting in is easy, but getting out... and that too by booking a heavy loss is not easy.

Currently, you have already in a hugh loss. So I do NOT wish to advise in any way, and make things more complicated.

However, I can provide some food for your thoughts, for you to think and take appropriate decision.

First.... I have written in my thread a month ago that Nifty's target could be 3825..... my reading of charts and I could be wrong.

But then, I have also written that 16th May is crucial.

Everyone knows that all the political parties are useless and hence no one is likely to get even 25% of the total votes, leave aside the majority.

Lefts are sitting on the fence, and may prove to be a deciding factor... but so is Sharad Pawar and his party.

Horse trading may start immediately as the results start coming out on 16th May, but to get a clear picture about the formation of the government may take a lot of time.

This is the time, when there may be ups and downs in the markets, with a very high volatiity. Currently 200DEMA is about 3400 and 100 DEMA about 3150. Nifty is likely to take support at any one of the two, in the event, there is any land slide fall.

Again.... I am NOT advising you anything. I am noting some of the probabilities.

It is your money.... You need to think, and take proper decision AT PROPER TIME, as per YOUR wishes.

Good Luck!
SS