Nifty

Nope, not at all.
Look first of all future&options and Intra-day Trading require more skills then normal trading (positional/short term).

According to me normal retail investors should not trade in future&options and Intra-day cause you can get a small-small profit at times but it will all your small-small profit along with your whole capital all of sudden if you are not a skill trader.
Even I have suffered from this also and It took almost 4-5 years to understand that stock market is purely business if you take it seriously otherwise it will punish you like every gambler should.

You asked 15mins charts and some moving average setup to trade in nifty then my answer is big NO cause all these things are just bullshit better not to try those.

Best way to trade in nifty is educate yourself first then spend some time in market and then do paper trading and if u find that your calculation are going and you can earn then only trade in nifty.

Best of luck.
perator:

 

Hi Sanjay,

I want to trade for short term in nifty .. not intraday. So what we need to see only support and resistance or any other tools to confirm ... ?

Regards,
Kiran

 

Yeah you r right that is y I have shorted cause this is news driven only and it has moved more then expectations so next dip is further waiting.

Let's see how much dip?

 

Not required any tools at least I am not using and don't think I need any tool.
Charts are enough to tell you the story if you read it correctly.
You are absolutely right support and resistance are big keys and the chart behavior if you analyze that you earn definitely.

Trade only if you are confident and if you find any confusion in between just cover your trades without any any hesitations weather it is in profit or in loss.

 

Nifty spot manage to cross 6100 a big hurdle, now the test is going on it will test the emotions of all weaker hands now.

Very Very big hurdle @ 6125.
Till 6150 I am short.
Let's see.

 

What a move cross big hurdle 6125, if manage to close above 6135 then trend will last.

 

Added 1 more lot @ 52.45, average cost is 54.95 now

 

going great making me to think to cover short.

 

Great Nifty Oct pe5700 closed @54.25 above the average price.
Nifty spot high 6142.50 only 7.5 points far to hit stop.

 

Now I have to think twice about stop loss cause 1 dip is due for nifty very soon.

 

Hi Shabbir/Sanjay,

I think there were 3 technical patterns suggesting the up-move of the current rally.

Head and Shoulder pattern , W pattern and Divergence.

Please correct me if i am wrong ...

Regards,
Kiran

 

hello sanjay,

first off all thanks for the trade updates...it helps begginers like us to study and test our skills..

why you are in 5700 pe and not in 6200 pe...how to choose strile price??

addition to this you are in OCT series not in current series..?


pls guide us on this

thanks
suraj

 

Somewhere you are right but things which are forcing me to be short :-
1) W breakout @ 5750 is already discounted and nifty is currently @ 6115 and made a high of 6143, so there is no point to discuss more about W break out.
2) Same thing with head & shoulder pattern which break down and went till 5119 on 28-8-13.
3) Divergence, I am sorry but I don't know how to analyze this so "NO COMMENT" on Divergence.

Now Points to remember before going long cause there are many factors which can drag NIFTY down very easily and the point are :-
1) There are 4 heavy Gap up and out of 4 only 1 was filled, I am not saying every gap should be filled but this is 1st indication that trend will not last more.
2) After the breakdown it should down further but it went till 5119 on 28-8-13 at least till 5000-4900 according to trend line.
3) It is in range of 4531.15-6335.9 from last 2 year and 10 months.
4) It ran like hell from 5119 to 6143 took only 22 days and only one correction in between 5581-5324 on 3-9-13 but on other side (downward) it took more then a month 6093-5119 from 23-7-13 to 28-8-13 and in between there were some pullbacks but in upward u can see no pull backs only little correction for 4-5 days.
5) It will face so many resistance from this level like 6135, 6150,6230 and finely 6335.
6) This rally is only because of positive new from fed but just think about Indian economy also, has it changed ? and answer is BIG NO, even going worst so don't think about new highs before elections.
7) Yesterday net buying from FII was +3500CR and DII is -1800CR, do u think FII will buy every day like this again answer is BIG NO, they bought just because of fed cause earlier they have withdrawn money from Indian market.
8) RBI take on this may be they will cut down some interest rates, maximum they will cut little repo rate but just this is this effect market? answer yes but how long only for 1-2 hours or maximum a day.

Thought for today Nifty will try to breach 6150 after RBI policy and may touch 6200-6225 but what next?

All professional traders will start booking profit and after some downside panic sell will come from retail investors that can drag nifty down easily.

To continue with rally it should not breach 6050, 5950 and finely 5800 after 5800 it will run down like hell.

My views Nifty will correct or consolidate from now onward and will touch 5970 and then may be if break down happen 5810-5820 but will not breach 5800 and then start rally again upward and will make new highs in 2014.

Regards,
Sanjay Sansanwal

irate:

 

I choose 5700 Pe so that I can add more if I have to and Nifty can go little further, it will correct for sure but may take time so I have taken Oct. series.

According to me in option trading you always should prepare for worst, fast decision, undoubt full and ready to take opposite direction calls/puts also to hedge and most importantly take small loss to avoid heavy loss.
perator:

Regards,
Sanjay sansanwal

 

Thanks a lot Sanjay for sharing nifty view. Even i feel it will pull back up to 5780 level and in-case if it sustains this level then it may rally upto 6700 levels ... not soon but in couple of months.

Regards,
Kiran

 

Intraday chart is showing weakness in nifty, taking resistance @ 6120 if managed to cross 6125 then go up and may touch 6145-6150 but if managed to cross 6093-6085 then it may touch 6055-6045

 

Hi Sanjay,

When reading the charts do we need to see nifty spot or futures ?

Regards,
Kiran

 

Covered @ 67.50, 22.83% in a single day Rs.1255.