Nifty Intraday Pivot Points

[SavantGarde]

Normally The Preferred Choice For Smart Money Is RELIANCE & ONGC...To Manage The Index Movement To Suit Themselves.

Considering There Is Only 5% Float Of ONGC, One Could Understand...But RELIANCE...Because It So Widely Held With A Huge Float...One May Ask How Is That Possible...???

Well..Well..While The Actual Float Of RELIANCE Is Very High & Widely Held....Reality Is Something Else Therefore It Is Much Easier To Manage The Index With Just These Two Behemoths.

Most Retail Investors That Hold RELIANCE Shares, Never Sell Or Even Trade In It...Psychology That Is Prevailent Among The Investors Is Such That They Will Sell Anything From Their Portfolio But RELIANCE...Hence Most Of The Shares Held By Public Is Practically Dormant & Not In Circulation, By Virtue Of Which There Is Very Little Active Float In Circulation..

SavantGarde

 

[SavantGarde]

Re: CNXIT Intraday Pivot Points

Constituents List of CNX IT

1) CMC
2) COREPROTEC
3) EDUCOMP
4) FINANTECH
5) FSL
6) GTL
7) HCL-INSYS
8) HCLTECH
9) INFOSYSTCH
10) MINDTREE
11) MOSERBAER
12) MPHASIS
13) OFSS
14) PATNI
15) POLARIS
16) ROLTA
17) TCS
18) TECHM
19) TULIP
20) WIPRO

SavantGarde

 

[rajeshn2007]

SG,
nice view on free-float of reliance.(it works the same way on the downside too?)
think hatke !

 

[cbosein]

Hi SM,

If Smart Money & Funds Are net Long Then One Shall Witness A Downward Pressure On The Expiry & Before.

Therefore, My Advice Would Be, Considering You Are Sitting On Profit...To Exit With Some More That You Get Tomorrow....

Happy & Safer Trading

SavantGarde

Hi SG,

To-day (23-11-09), I shorted 1 lot of NF Dec series at 5115 level (around 12.15pm, below R4 level 5133, Nov series R4:5125) when price moves down from 5120 & Green bar piercing upper band followed by Red bar (BB setup 9,2.00) and also RSI was around 62% falling (using ventura pointer s/w). Target for exit was 5090~5080 since open & low was same at 5074.90 (just missed entering long above 5080 for target near R4). But NF down around 5107 & moved upwards 5128 level & setteled at 5117. So, carring for to-morrow / later.

I want to know whether my above trading is ok or wrongly executed. I want to correct myself from mistakes & don't want repeat the same based on your comments

Your few line comments are requested for breathing & what action I should to-morrow?

Note Also holding 2 lot of PE4900 Dec bought @74. I did't hedge since calls are at higher prices at 3.15pm.

Thanks in advance,

Regards,
Keerthi

 

[SavantGarde]

Hi Keerthi,

Firstly, I Hope You Are Not Carrying Your Shorts & That You Booked Profit.

You Did Well Following The Pivot & BB Rule...

Another Thing That Helps If You Can Lay Out Horizontal Lines Across The Chart...For Reference, That Should Work Better Than Writing Down On A Piece Of Paper...Also While Trading Intraday, Be Mindful Of The Trailing S/L Mentioned.

All The Pivot Calculations Are General Areas...& Give A Leeway Of A Few Points, Especially If You Already Have A position.

Otherwise Can't Fault Anything You Did Today....Congratulations...For Good Execution !!!

Happy & Safer Trading

SavantGarde

Hi SG,

To-day (23-11-09), I shorted 1 lot of NF Dec series at 5115 level (around 12.15pm, below R4 level 5133, Nov series R4:5125) when price moves down from 5120 & Green bar piercing upper band followed by Red bar (BB setup 9,2.00) and also RSI was around 62% falling (using ventura pointer s/w). Target for exit was 5090~5080 since open & low was same at 5074.90 (just missed entering long above 5080 for target near R4). But NF down around 5107 & moved upwards 5128 level & setteled at 5117. So, carring for to-morrow / later.

I want to know whether my above trading is ok or wrongly executed. I want to correct myself from mistakes & don't want repeat the same based on your comments

Your few line comments are requested for breathing & what action I should to-morrow?

Note Also holding 2 lot of PE4900 Dec bought @74. I did't hedge since calls are at higher prices at 3.15pm.

Thanks in advance,

Regards,
Keerthi

 

[aditya14]

Hi Savant,

Sold my Long position at day open based on pivot being much lower than close and went short

One of those days when the rule did not work!

Looks like SM also dipped to take out the short-term SL at 5068.35

Went long again at break out above next pivot at 5117, turned out that I picked the high!

holding for tomorrow

Ouch that must`ve hurt.Iam sure you`ll get return tomorrow but hold at your own peril as expiry is near better to book profits and not keep overnight.Right?

 

[Prabhan]

Sirjee,
Holding 1 lot 5200CE nov call @ 17. CMP 11.00 and 4 lots 5300CE avged at 11.00 and CMP is 3.
Can I book loss in these calls tomorrow? As I was expecting that NF will cross 5150, so atleast I can get very small profit in 5200CE and cover the loss in 5300CE, thats why dint square off today...
I understand now that I am not nimble enough in my trades..trying to acquire this quality asap.

Please advice.

 

[cbosein]

Hi Keerthi,

Firstly, I Hope You Are Not Carrying Your Shorts & That You Booked Profit.

You Did Well Following The Pivot & BB Rule...

Another Thing That Helps If You Can Lay Out Horizontal Lines Across The Chart...For Reference, That Should Work Better Than Writing Down On A Piece Of Paper...Also While Trading Intraday, Be Mindful Of The Trailing S/L Mentioned.

All The Pivot Calculations Are General Areas...& Give A Leeway Of A Few Points, Especially If You Already Have A position.

Otherwise Can't Fault Anything You Did Today....Congratulations...For Good Execution !!!

Happy & Safer Trading

SavantGarde

Hi SG,

Thanks for your comments & support.

Since Dec series I didn't covered Y'day. To-day I will cover it if NF Dec comes near 5100 & go long with 2 lots (1 for to cover short & 1 for B.Hold) based on market trend

Pointer s/w (ventura) no line can be drawn so writing on paper & trading.

Thanks for everything your provide to us.

Regards,
Keerthi

 

[fabrics]

"Pac" is the man.Hope he fights with Mayweather now and dispel the myth of that coward.

Good to see someone watches boxing apart from me in India.. lolz

Are you an avid follower? didya watch Haye`s bout

But yeah now MMA is taking over slowly.

Mr Aditya,
If u didnt want to follow vikas's advice nobody was forcing u to follow.By acting like a social worker or a so called Mr Goody 2 shoes the options thread has been discontiued & we miss findvikas's 2 mins strategy

 

[GuluGulu]

Re: BankNifty Intraday Pivot Points

Savant -

Thank you very much for providing this useful piece of information..

GG