Nifty MAGIC Levels For Today

[shoby]

Dear shoby:
Sop Losses are most difficult like Delhi Ka Ladoos "suffer if you do not eat suffer if you eat."
At 10.06 short NIFTY MAR. at 5239.
At 10.34 stoploss at 5259.
At 14.44 PRICE: 5227
Small Stop Loss - Small Loss.
Big Stop Loss - Big Loss or Big Profit.
Best to oscillate at 0.5%. But at that low rise/fall too swings are cruel.
Kya Karega ???
j.

Yes its very painful to be stopped one trade after other...once we r stopped we have to be very carefull to minimise the next losses in the next trades ....try to take profits at the earliest or close trade at cost if the trade is not willing to give profits....in todays case our first trade was a sell at 5238 and it stopped at 5260 ....next was long trade at 5262 and nifty shot up to 5271.60 only and for next 3 hours was trading around 5260, so it is better to book at cost rather than wait for stop to hit....then third trade was short again at 5238 and it fell to 5227 and was trading around 5240 for the rest of the day and could close trade at cost only.
Another thing to be taken care of is....we should not short when Nifty is going up in full steam, we better wait till Nifty looses steam and come to our sell level before we short and viceversa while going long....today morning nifty was powering in one go from 5230 to 5272 and we blindly shorted at 5238 only to hit our stop....

 

[shoby]

NIFTY MAGIC LEVEL 18.3.10
MAGIC POINTS ARE 5215 and ...............
Resistance & Support POINTS ARE 5265....... AND 5150....

LVL 1)BUY NIFTY FUTURES ABOVE 5226 S/L below 5206
SELL BELOW 5204 S/L ABOVE 5224

LVL 2) Buy NIFTY FUTURES ABOVE 5276 S/L below 5256
Sell below 5254... S/L above ..5274....

LVL 3) BUY above 5161......----S/L below 5141....
SELL below 5139-----S/L above 5159--


18th March Pivots
5119<--->5150<--->5181<--->5215<--->5265 <--->5296

 

[vinst]

NIFTY MAGIC LEVEL 18.3.10
MAGIC POINTS ARE 5215 and ...............
Resistance & Support POINTS ARE 5265....... AND 5150....

LVL 1)BUY NIFTY FUTURES ABOVE 5226 S/L below 5206
SELL BELOW 5204 S/L ABOVE 5224

LVL 2) Buy NIFTY FUTURES ABOVE 5276 S/L below 5256
Sell below 5254... S/L above ..5274....

LVL 3) BUY above 5161......----S/L below 5141....
SELL below 5139-----S/L above 5159--


18th March Pivots
5119<--->5150<--->5181<--->5215<--->5265 <--->5296

shoby,
it is nice that u r regularly posting levels. However, the above LVL 1 buy above 5226 seems to be contradictory to sell below 5254 (LVL 2).

regards
vin

 

[shoby]

shoby,
it is nice that u r regularly posting levels. However, the above LVL 1 buy above 5226 seems to be contradictory to sell below 5254 (LVL 2).

regards
vin

yes Vinst, these levels are purely for intraday and there is this big resistance around 5260. so by this levels if we have positions from 5226 can book profits near 5254 and if there is weakness can go short there and only if it crosses 5276 it is safe to go long further....If market is in strong uptrend we can be long from 5226 right to 5276 where it is buy by LVL 2 and take the ride up.
Also I have mentioned its not for agressive traders or experts but for small investors who wants to play safe and pocket predetermined 20-25 safe points .....Lucky traders will ask why trade for 25 points profit....but in reality most small traders are finding it very difficult to make a profit even.
Cheers

 

[shoby]

:lol:Hi! Just look at our levels...buy above 5226 and sell below 5256....just see the high and low now.... 5255 and 5228 ...:lol:
P.S. just a good feeling seeing something we predicted comming right in this cruel market,,
I could sell at 5253 only as my order at 5255 was not taken and covered at 5233 ...even small profit is beautiful .....

 

[roameri]

yes Vinst, these levels are purely for intraday and there is this big resistance around 5260. so by this levels if we have positions from 5226 can book profits near 5254 and if there is weakness can go short there and only if it crosses 5276 it is safe to go long further....If market is in strong uptrend we can be long from 5226 right to 5276 where it is buy by LVL 2 and take the ride up.
Also I have mentioned its not for agressive traders or experts but for small investors who wants to play safe and pocket predetermined 20-25 safe points .....Lucky traders will ask why trade for 25 points profit....but in reality most small traders are finding it very difficult to make a profit even.
Cheers

Dear shoby:
Do we take it that TGTs are +/- 25 pts. from your buy/sell at figures ?
Does 25 pts. cover brokerage, Service Tax, STT etc. and still leave a profit?
TKS.
j.

 

[radha55]

NIFTY MAGIC LEVEL 18.3.10
MAGIC POINTS ARE 5215 and ...............
Resistance & Support POINTS ARE 5265....... AND 5150....

LVL 1)BUY NIFTY FUTURES ABOVE 5226 S/L below 5206
SELL BELOW 5204 S/L ABOVE 5224

LVL 2) Buy NIFTY FUTURES ABOVE 5276 S/L below 5256
Sell below 5254... S/L above ..5274....

LVL 3) BUY above 5161......----S/L below 5141....
SELL below 5139-----S/L above 5159--


18th March Pivots
5119<--->5150<--->5181<--->5215<--->5265 <--->5296

Good Prediction

 

[shoby]

That was good 20 points ....bought at 5226 booked 5246.....now will wait and see before shorting at 5255 as it will make a new high for today at 5255 ...
Yes no shorts as said at 5255 that too towards close....so 40 points not bad ....

 

[praveen taneja]

Dear shoby:
Do we take it that TGTs are +/- 25 pts. from your buy/sell at figures ?
Does 25 pts. cover brokerage, Service Tax, STT etc. and still leave a profit?
TKS.
j.

25*50=1250/-
is not it enough for covering all expenses???????/

 

[praveen taneja]

That was good 20 points ....bought at 5226 booked 5246.....now will wait and see before shorting at 5255 as it will make a new high for today at 5255 ...
Yes no shorts as said at 4255 that too towards close....so 40 points not bad ....

:rofl::rofl::rofl: typo mistake