Nifty Futures Trading

aca_trader · #**531** 25th February 2008, 10:54 AM

Sensex Bridges the GAP(Though breached and retested the trendline) and NIFTY at TL. Covered EOD Shorts. May prove to be a premature decision.

aca_trader · #**532** 25th February 2008, 11:10 AM

Sensex Retesting its Trendline (Of Recent lows on daily chart). May provide some good shorting opportunities below 5070 in NIFTy underlying.

Saint · #**533** 25th February 2008, 11:12 AM

After the first hour of trade,we still have all time frames in a dntrend.In the daily charts,NF still in a dntrend.....if prices shoot up from here,we would have gotten us a higher pivot low,and a move above the 5367 area gives us a new daily uptrend.

On to the all important 60min,above 5203 gives us an uptrend on the 60,a clear cut visual only over 5225....

That gradient on the 60 and the daily looking more and more like an up move in the offing soon........but as always,not looking to predict a move and anticipate an entry.We wait for some confirmation.

Above the high of today +Rs5-6 would be great to go long...........but either way,waiting for the high to get taken out before making a entry.

For now,a wait-n-watch.....

Saint

Saint · #**534** 25th February 2008, 11:14 AM

Quote:

Originally Posted by aca_trader

Sensex Retesting its Trendline (Of Recent lows on daily chart). May provide some good shorting opportunities below 5070 in NIFTy underlying.

Ah,my friend,today we are on opposite sides.......

Saint

aca_trader · #**535** 25th February 2008, 11:16 AM

While NIFTY tested it TL, Sensex Breached it, closed the Gap and now has once again come inside the Trendline. If The hourly close is above this level, We can go long above the high of 11-12 AM Hourly Bar with Day's Low as stop. The target will be 5250/17650-18000 (Approx.). It will be a position trade.

Regards,
--Ashish

aca_trader · #**536** 25th February 2008, 11:18 AM

Quote:

Originally Posted by Saint

Ah,my friend,today we are on opposite sides.......

Saint

I have changed track now.

BTW, I will like to play either side depending upon set-up.

Saint · #**537** 25th February 2008, 11:22 AM

Quote:

Originally Posted by aca_trader

I have changed track now.

BTW, I will like to play either side depending upon set-up.

Great mindset,my friend........usually do the same,but that daily looking more and more juicy by the hour.A bit worried to go short.But usually,yep,end up doing the same as you.

Saint

Saint · #**538** 25th February 2008, 11:24 AM

11:23 am:NF is at 5081........wonder if we can close above 5096.Means a total negation of that breakdown bar.Means usually a yummy long.

Saint

aca_trader · #**539** 25th February 2008, 11:29 AM

Quote:

Originally Posted by Saint

Great mindset,my friend........usually do the same,but that daily looking more and more juicy by the hour.A bit worried to go short.But usually,yep,end up doing the same as you.

Saint

Thanks Saint!

I agree with you that the daily chart is looking very good for a congestion boundries play.

Saint · #**540** 25th February 2008, 11:38 AM

oh well,....nibbling on long at 5104,with sl 5058......As distant the sl,the appropriate posn size as per plan.

Saint