Nifty Key levels for day traders

[itprodeepak]

I think today counts as a day of profit booking..but we never broke 5050...
When spot broke 5050, we went into premium. Thats a sign that 5050 is acting like a bottom. Now what to expect...?

A dash to 5300 and beyond.... unlikely...
A selloff to 4900 and below.... even more unlikely...

Range expansion needs a upper band and a lower band and we will establish that first. So far, 5080 is the high. But we closed near the high and chances are we will see a gap up tomorrow, if global market supports. 5050 was todays low and so far 5050 to 5080 is the range.

Either boundaries will be broken tomorrow and a new range will be established...

Hi Linkon,

Today was NR7 day for Nifty Futures... I think tomorrow if we open gap up than profit booking will bring nifty futures back to 5050-5020 range... lets see tomorrow... personally i feel like going short on highs (I have initiated short @ 5080 today...)

 

[linkon7]

Hi Linkon,

Today was NR7 day for Nifty Futures... I think tomorrow if we open gap up than profit booking will bring nifty futures back to 5050-5020 range... lets see tomorrow... personally i feel like going short on highs (I have initiated short @ 5080 today...)

Looks like we are in the opposite side of the fence...:lol:

I'm holding long at 5081 and as hedge i shorted 5000 call at 142...

 

[scplindia]

can you please explain this stratgegy and how it acts as a hedge

 

[praveen taneja]

can you please explain this stratgegy and how it acts as a hedge

he is playing with fire bro in case of mkt fall 142 would be 50 in case of 5300 his long would be 219 and short call 375:thumb:

 

[linkon7]

can you please explain this stratgegy and how it acts as a hedge

he is playing with fire bro in case of mkt fall 142 would be 50 in case of 5300 his long would be 219 and short call 375:thumb:

This is called a covered call... Something similar to shorting a naked put. Only difference is i get to job NF intraday on the long side. If we manage to close the series above 5000, i'm going to gain 60 points. 4940 is my breakeven point, below which i'm going to be in a loss...

I'm expecting market to stay between 5170 to 5000 in the near term. No major trigger to pull it down, nothing to make it rocket past 5300...

Just playing for a sideways market with a mild bullish bias. 40 points plus one day, 30 points minus the next day kind of market.

 

[gautamparmar]

Hi PT

Can you describe bit further?.

I did not understand actually.

Thanks

 

[varun2504]

can we go for short on nifty at 5113

 

[trader.trends]

can we go for short on nifty at 5113

If it is a random trade avoid. But if your system is telling you to short, do it.

 

[linkon7]

can we go for short on nifty at 5113

Intraday, when the range gets very narrow... avoid trading NF...

Chances are you might get into a trade that doesnt move beyond the brokerage.... and then u are stuck...!

Try trading options...sell call if u feel bearish and sell puts if u feel bullish.... as low volatility will be your friend if u are a option seller....!

 

[linkon7]

Exited the covered call...in the morning with 12 points profit...

shorted 5200 call April for 105 and 4900 april for 80
total premium collected 185 points...

BEP : 4715-5385

Now objective to watch matrix series and try to understand the story specially, part 2 & 3. Those went above my head totally...