Nifty Future trading plan

#1
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!
 
#2
Trade analysis for Friday -
1. Nifty future formed a bullish candle, on higher volumes, we need a follow-up move for the same now. Staying above day high of 4906 will be bullish
2. RSI and Stochastics oversold on Daily charts
3. Nifty future closed near the falling breakout line of January
4. Maximum trade volume at 4860 and 4790.
5. VAH at 4857. it can come down to test it. If opens down and starts trading down, then a Buy to be done near 4857 + 10/20 points, with Stop and reverse below 4850. All intraday stoploss for me is max. 20 points.
6. If does not come down and moves up, then Buy to be done above 4930/4935 - after seeing sustenance on 15/30 min. charts. This is the swing high on hourly charts.
 

Attachments

#3
Good analysis, mando25 :thumb:. What is VAH ??

BTW, please use an external service to load your charts and post the link here. Using "Manage Attachments", you will run out of space very soon. Check my signature for instructions about uploading pictures.
 
#4
Thanks timepass. VAH is Value Area High, in Market profile terms. I will try your method for uploading pictures from here on.

As per plan, Scenario 6 was into play, but no trade got executed today. Nifty future got resisted exactly at previous swing high of 4930-4935 zone.
 
#5
Trade analysis for Monday -
1. Nothing changed in the levels. Nifty future ended slightly down.
2. Volumes lower than Friday
3. Normal day as per MP. VAH at 4922 and VAL at 4900.
4. Trades for Monday -
a) Buy above 4935 Nifty future - Swing high, same condition as yesterday. This trade can also be converted into a positional trade, if ends with good gains at EOD
b) Intraday, Sell near 4885/4890 and Buy near 4860/4865. (SL not more than 20 points in these trades). This will be an aggressive trade, and oscillators like stochastics should confirm the trade
c) Short below 4850 Future level. This trade can also be converted into a positional trade, if ends with good gains at EOD
 
Last edited:
#6
Today's day provided the following opportunities -
1. Aggressive short at 4885/4890
2. Aggressive long again at 4865/4860
3. Aggressive Short again at 4885/4890
4. Short trade below 4850

Trades 1 and 2 would have been difficult to take, because of fast movement at these levels. However, trades 3 and 4 were easy ones. All trades would have been profitable. The short trade below 4850 closed today itself, as it closed very near to the cost

 
#7
Trade Analysis for Tuesday -
1. Nifty Futures closed down by around 40 points, on higher volumes
2. Bearish engulfing candle bar on daily charts. Needs follow up action
3. Volume spikes at 4840, 4880 and 4920
4. As per MP, VAL/POC and VAH at 4870, 4918 and 4940
5. Option Call open interest addition at 4800 CE, 4900 CE and 5000 CE. Put at 4700 PE.

Trades for Wednesday -
a) Sell if Nifty rises up till 4865/4870, with 20 point stoploss
b)If slides from morning itself, then aggressive short trade can be taken below 4840 future. This has to be supported by Oscilaltors/ other indicators
c) If continues to rise and goes above 4900, then sell near 4910/4915 with 20 point stoploss
d) Buy above 4935 future on sustenance above this level on at least 15 min. charts
 
#8
Update -
No opportunity for trade today. Point (b) played out, but it opened below the reference level of 4840, although it did come upto 4838 in the afternoon trade.

Trade Analysis for Wednesday -
1. Nifty futures closed lower again, on higher volumes than yesterday
2. Oscillators like stochastics and RSI remain oversold on daily charts.
3. Todays downmove can be taken as a follow-up move to the bearish engulfing of yesterday
4. Intraday low of 4782 was held by Nifty in afternoon, when it made a higher low of 4786. However, higher high was not formed.
5. VAL, POC and VAH are at 4803, 4815 and 4827
6. Highest volumes for the day in the zone o 4810 to 4825

Trade Plan for Thursday -
a) Sell below todays low of 4780. Ideal stoploss above 4825. But better to keep small stoploss of 20 points and reshort if breaks 4780 again
b) Aggressive Buy above 4830, targets 4850 and 4870. Stoploss of 20 points

 
#9
Update -
Trade (b) played out today - Buy above 4835 future, and reached both the targets. It gave the opportunity two times during the day.

Taking a break tomorrow. 4940 on future will be important level. Positive above that. If falls lower, then also Buy can be taken around 4900 level, with 20 point stoploss
 
#10
Trade Analysis for Monday -
1. Nifty futures closed up 60+ points on average volumes
2. VAL, POC and VAH at 4925, 4938 and 4953
3. The maximum traded volumes were between 4930-4950 zone
4. In Options, covering seeing in 4900 CE and 5000 CE, while addition at 4900 PE and 5000 PE
5. NIfty Futures closed above the previous swing high of 4956. Consider short term trend up till it stays above this
6. Considering upmove, next resistance on upside comes around 5030 and 5080/5085 nifty future
7. Downside support 4930 and 4913 for tomorrow

Trade Plan for Tuesday -
1. If NIfty future dips in the morning trade, Buy near 4950 level with stoploss at 4930
2. Aggressive Sell can be taken at 4930 with 20 point Stop and Reverse
3. Real downmove only if Nifty future close below 4913. Positional Short below this level with stoploss (and reverse) above 4950

 

Similar threads