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Nifty futures trading

Discussion in 'Technical Analysis' started by sainath85, Mar 28, 2013.

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  1. sainath85

    sainath85 Member

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    Dear Friends,

    Are there members who trade frequently in Nifty futures (daily, weekly- positional) ?? If yes, then pls post in this thread on regular basis so that members can learn from each other and be successful in trading.

    My background- I started my career as equity researcher- fundamental analysis covering Indian banking sector. I have now moved to a strategy type role, so have some time to learn technical analysis and trade nifty futures.

    Pls post all discussions on Nifty in this thread so that we can minimize the trouble of checking each page in this forum. Do share your views. Thanks
     
    sainath85, Mar 28, 2013
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  2. sainath85

    sainath85 Member

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    What do you guys make out of todays sudden Nifty rise of 40 odd points? Does this mean uptrend is about to begin or is this the usual bull trap?
     
    sainath85, Mar 28, 2013
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  3. kamat79

    kamat79 New Member

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    I somehow feel that Nifty trading is gambling. It's index of many stocks, so doesn't really have it's own candle as such. It's result.
    y=f(x)
    y=nifty
    x=index stocks
    So better to trade on stocks where we can identify the momentum.

    cheerS!
     
    kamat79, Mar 28, 2013
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  4. shabbir

    shabbir Administrator Staff Member

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    I see supports not being broken but then it also means I will not go long as of now because of W not being clear. Chances of it being a bull trap is really high
     
    shabbir, Mar 28, 2013
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  5. sainath85

    sainath85 Member

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    @ Kamar..dont you think individual stocks have higher chance of getting manipulated than Nifty?

    @ Shabbir- thanks. Could you give us an idea of how to read options data to know the Nifty trend?
     
    sainath85, Mar 29, 2013
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  6. shabbir

    shabbir Administrator Staff Member

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    I prefer reading chart data rather than options
     
    shabbir, Mar 29, 2013
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  7. verenmitter2001

    verenmitter2001 Member

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    I thinks yesterdays 40 points jump was due to short coverings in derevatives. Nifty had 7-8 sesion in red and some good shorting oppurtunities were there in past month.
    Short covering towards the end must taken nifty to high.
    2- 3 more flats sesions and then the Nifty trend will be more clear.

    Regards
    Veren
     
    verenmitter2001, Mar 29, 2013
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  8. sainath85

    sainath85 Member

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    i could not trade today because of too much work in office. Though Nifty ended 21+ points up, it is still unclear to decide on the trend.
     
    sainath85, Apr 1, 2013
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  9. sainath85

    sainath85 Member

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    Markets up again today, now at 5748. Since it has not crossed 5500 should we change the support levels now?
     
    sainath85, Apr 2, 2013
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  10. shabbir

    shabbir Administrator Staff Member

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    Support levels. I don't think so unless Nifty crosses 5950 and breaks the lower top lower bottom pattern
     
    shabbir, Apr 2, 2013
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  11. sainath85

    sainath85 Member

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    Nifty closed 75+ points down..it was quite surprising; i think if it breaks 5635 then it is headed to 5550
     
    sainath85, Apr 3, 2013
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  12. shabbir

    shabbir Administrator Staff Member

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    Yes things looks bad.
     
    shabbir, Apr 3, 2013
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  13. sainath85

    sainath85 Member

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    wow..market now at 5575. What do you guys think now? If it goes down 5550 then next support would be 5225. If it hovers around 5550 and picks up, then resistance at 5730 and then at 5950.
     
    sainath85, Apr 4, 2013
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  14. shabbir

    shabbir Administrator Staff Member

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    Market is forming lower tops and lower bottoms and so I doubt that levels would hold as of now.
     
    shabbir, Apr 4, 2013
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  15. sainath85

    sainath85 Member

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    so would the support now would be 5550 and 5225?
     
    sainath85, Apr 4, 2013
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  16. vishuhd1

    vishuhd1 Member

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    I am now bit worried that nifty went below till 5537 and bounced back and now trading at 5559, just a shade above the important support of 5550.. So, I guess we need to wait for few more trading sessions next week to confirm the nifty making the base...
    Shabbir can comment more on this..
     
    vishuhd1, Apr 5, 2013
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  17. shabbir

    shabbir Administrator Staff Member

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    Yes wait and watch is best strategy as of now.
     
    shabbir, Apr 5, 2013
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  18. sainath85

    sainath85 Member

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    buy signals for nifty
     
    sainath85, Apr 30, 2013
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  19. vishuhd1

    vishuhd1 Member

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    Sainath,
    Can you clarify as to how did you get the buy signals?...

    According to me, if the Nifty opens and closes well below 5930 on 2nd May, it could be a trend reversal sign.. So, I just wanted to know what made you to get the BUY signals..
     
    vishuhd1, Apr 30, 2013
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  20. sainath85

    sainath85 Member

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    My strategy is based on EMA and it is showing buy signals. Pls note that i am not taking any positions and i am just testing (paper testing) my strategy.
    Buy NIFTY Futures June Or July Series
     
    sainath85, May 1, 2013
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