Exited at same price,no movement.
Nifty dec fut buy @ 10369.5 (at 10:22 am)
Exit sell @ 10399.5 (at 11:55am)
Another carry over dec fut bought yesterday sold @10405
Nice trade. Prudently trading NIFTY future.
Want to follow you.
Hi @gopchem, i have also been secretly following your forex trades for some time. I think you are the only person i have seen here regularly posting about profitable gbpinr trades. I wish to learn about trading this market someday.
I am just a beginner in nifty, trading for few weeks since the market high was reached. I couldn’t make much in options and they block your capital for very long time, so i moved to futures.
For the last few days, the market is mostly moving sideways. Interestingly, the opening has been always gap up due to sgx nifty pulling it up during the after-hours and then the indian market pulling it down either completely or partially. So, btst gains are possible with buying futures at eod.
Because its a sideways market, prices seem to either move up or down during the first few hours and then retrace back some of that movement. All I try to do is identify this support and resistance regions where they might change their direction.
For ex. If you look at today’s movement, there was a 30 point gap up. I was holding yesterday’s buy fut and hoped that prices will move up little more (after opening) to 10370+ , before moving down again. 10370 was my expected resistance level. But it didn’t reach that high.
Unfortunately, nov dec both fut were trading most of the day at 10 point less premium than yesterday’s, so that definitely eats up your btst gains - i don’t know why and when this thing happens, but it is definitely not just due to time decay.
Anyway, finally i didn’t sell yesterday’s fut in the morning. Now it started moving downwards and in just two hours spot reached 10318. My expected support was at 10320-10330. Finding it even below that, i immediately bought another mis fut. Now, my target was reaching near days opening price at 10350. Thankfully, it did reach the target, so that was a good 30 point gain. Also sold yesterday’s fut for a small gain after this.
You are kind enough to explain your logic behind trade thanks. Let’s wait for tomorrow…
Thanks a lot to share the strategy…
Forgot to share 1thing, holding Dec future 10385. Not sure how it will shape up tomorrow. Is required to hedge with anything?? Or just hold and booked profit when it reached more than 30_40 points.??
Share your views plz…
I think nifty spot 10375-10385 is a strong resistance, but i would expect it to at least touch 10370 in the first half. Keeping that as the target, you can probably aim for 30 points gain. If the opening is green by atleast 10 points, then this might happen in the first 2 hours itself.
But if the start is flat to red, bears can take some initial control of the day. But i think it’ll still rebound back to to 10350 in this case.
Also mind that future premium from spot decreased by 10 points today, if that is undone tomorrow, then you’ll get those points extra.
Perfect & Thanks.
Can I short Nov Fut??
If you are of the view that it’ll fall, then sure. I am not sure how the market will go in a week.
buy ioc@396 email@example.com
buy drreddy lot 2318
Sold nifty dec fut @ 10420.
Bulls are trying to break the nifty spot resistance at 10375-10385 for the whole day, so worried somewhat about my contra position.
Hoping that spot will come down to 10350-ish.
Exited at fut @ 10396.
Spot at 10345. Probably will come down little bit more.
Bought @ 10365 and @ 10373 dec fut. Both in red.
Spot fell right down to 10310, never expected that.
Nov fut is now at only 2 rs. premium from spot. Waiting for more suprises today
Exit @ 10382.25 and @ 10392.
Super trading. Going to be an expert in NIFTY future. Congratulations brother.
I would want to know your indicator’s intraday view on ACC?