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Nifty Futures Trading

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  #8771  
Old 22nd July 2008, 10:26 PM
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Default Re: Nifty Futures Trading

the pivotal levels for wednesday's trading are co-incidentally the same key levels which I have been posting throughout today's trading session:

Pivot - 4215
R1 - 4300
R2 - 4350

I'll be most interested to see whether SPOT slices through 4315-4350 gap resistance easily like a hot knife through butter... or whether some cooling/profit booking takes place over there...

(just as a student of nifty spot wave moments & an avid level watcher)
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  #8772  
Old 22nd July 2008, 11:14 PM
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Default Re: Nifty Futures Trading

Quote:
Originally Posted by Czar View Post
no rajaram, I'am sure lot of political money came in the last 1/2 hour in n.f.... take a guess which side is it on...
czar u r right i just came back from bar to see the developments but who cares the technicals gave a buy signal yesterday and i bought calls ...but today i bought puts because the system i follow asked me to do so. Tomorrow i might lose or i might win but i dont care as long as i follow my system...
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  #8773  
Old 23rd July 2008, 12:42 AM
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Default Re: Nifty Futures Trading

no position in the market is also a good trading position
subjective view
n this is not a copy paste
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  #8774  
Old 23rd July 2008, 07:24 AM
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Default Re: Nifty Futures Trading

Quote:
Originally Posted by tsunil4u View Post
the pivotal levels for wednesday's trading are co-incidentally the same key levels which I have been posting throughout today's trading session:

Pivot - 4215
R1 - 4300
R2 - 4350

I'll be most interested to see whether SPOT slices through 4315-4350 gap resistance easily like a hot knife through butter... or whether some cooling/profit booking takes place over there...

(just as a student of nifty spot wave moments & an avid level watcher)

forget 4350...

SGX NIFTY is knocking on the doors of 4500 (50DMA)...

I love bear rallies... either u r in it riding, or u r out thinking/waiting...
that's the speed & momentum in bear market...
right Asish sir (jesse sir)
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  #8775  
Old 23rd July 2008, 08:39 AM
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Default Re: Nifty Futures Trading

50 DMA is around 4450 SPOT...

entering longs at such higher levels is not advisable, as after a 600 pt non-stop rally (15%), profit-booking is imminent...
it may be a classic situation of buy-on-rumours, sell-on-news

but yes, going long at lower chartical supports is the norm for short term...

SPOT 4215-4200-4185 (the previous HLs) are critical support areas which should hold, after today's gap up opening, with minor support at 4240 (prev close).
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  #8776  
Old 23rd July 2008, 10:01 AM
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Default Re: Nifty Futures Trading

so, 50DMA 4450 is the key level to cross now, HOD as of now
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  #8777  
Old 23rd July 2008, 10:03 AM
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Default Re: Nifty Futures Trading

and below 4400 can target 4350...
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  #8778  
Old 23rd July 2008, 10:39 AM
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Default Re: Nifty Futures Trading

seems no one is trading as of now...

hope u guys are waiting to see that 4388 to break......
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  #8779  
Old 23rd July 2008, 10:46 AM
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Default Re: Nifty Futures Trading

4388 is acting as good support. Already shorted at 4410 but Nifty is very reluctant to go low.
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  #8780  
Old 23rd July 2008, 11:23 AM
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Default Re: Nifty Futures Trading

Looks like 4416-17 good resistance.
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