Trading Nifty without Nifty

ajeetsingh

Well-Known Member
#11

Nifty Future


R1=8100, R2=8125, R3=8165 (if it stays abv R2)
At higher levels think twice before buying
S1=8050, S2=8030, S3=7975, S4=7925 (for me 7925 is crucial support)
Major hurdles are 8170 at higher and 7925 at lower.
As expected
Nifty took crucial support at around 7925

 

ajeetsingh

Well-Known Member
#12
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
 

ajeetsingh

Well-Known Member
#13
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.
 

ajeetsingh

Well-Known Member
#15
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:
 

sreperu

Active Member
#17
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.
Over the time it will be stabilized. Practice is the only thing what we can do...

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#19
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.
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:
 

ajeetsingh

Well-Known Member
#20
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:
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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