NIFTY FUTURES
MARCH SERIES : PREPARATORY WORK AND A FREE CIRCULATORY COPY ONLY
NIFTY FUTURES FOR 20.05.2013 Monday .
What to expect tomorrow : Nifty future’s projected high and low for next session is 6219 – 6129 ( projection only)
For long on nifty futures buy only above : 6221 level for a target of 6241 – 6247 – 6262 – 6287 & 6307 with a stop at level 6194
For short on nifty futures sell only below : 6170 level for targets 6150 – 6144 – 6130 – 6105 & 6085 with stop at level 6199
Nifty future’s should at least trade 3 min and above to initiate trade’s
| NIFTY FUTURES PIVOTS LEVEL FOR THE DAY 20.05.2013 |
|---|
| CLOSE/OPEN | S3 | S2 | S1 | PIVOT | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| 6196 | 6106 | 6129 | 6162 | 6185 | 6219 | 6142 | 6276 |
Relative strength of nifty hourly time frame is 65 and on Day chart 68 , volatility: movement : High .Put call ratio seen at 1 & Sideways to + ve momentum seen
Trade for the Day from the 20.5.2013 onwards only for professional swing traders and not for investment purpose
| Script name | last close | Stop loss | L- 1 | Centre L-2 | L- 3 COVER | L- 4 COVER | RSI | Reversal value |
|---|---|---|---|---|---|---|---|---|
| IDFC Futures | 164.40 | 161.90 | 162.50 | 164 | 166 | 167.50 | 63 | 161 |
| 171.50 | Pattern : Inv H&S | |||||||
| No shorting only long | ||||||||
| Buy here | Buy here | cover | cover | trade on this stock ft |
Trade for the day 20.05.2013 :
Buy Ambuja cements : Buy Ambuja cement trading at 191.50 cmp : Buy this stock future with a stop at 184.80 level and trade long for a target of 194 – 197.50 and positional players can look for a target of 201 also in 2 to 4 sessions.Day traders should exit at first two levels
Sell HCL Tech futures : Sell HCL Tech futures trading at 723.70 level : Sell this stock futures at 723 to 733 range and maintain a positional stop above 755 and aggressive traders maintain stop at 747 on closing basis for targets of 712 – 700 -681. Day traders should exit at first two levels and positional traders look for lower target of 681 in 3 to 5 sessions
How to trade: The above mentioned stock or stock future’s is a buy on dip’s strategy ,buy around 50 % of the intended quantity at pivot point and add more at level one area and keep a stop at the given stop loss zone .If the stock opens at this zones in the morning session,buy and cover part profits at level 3 zone and trail stops just below pivot or level 2 area and for the balance qty or the rest of the quantity cover at level 4 areas. If stock dips below the level 1 zone wait for stock to retrace back to L-1 and above buy with the given stop loss .If a stock opens above the level 3 areas your trailing stop is just a small bip below pivot to trade long. Aggressive traders can short the same stock if opens at L-3 zone by keeping a tight stop at a tad higher than L-4 as stop loss and cover part at pivot areas and trail stops the other way round. I have updated the details of how to trade this system in the next page .Visit on the page new topic for more details on how to trade.
Always cover 50 % of your positions at target one and trail stops just below center point as the stock will find resistance at level 3 areas and trade reverses again back to lower levels.will update a page on how to play with these levels.
I have updated on how to trade the Camarilla equation on the page New topic.Go through the details and note down and than after 2 or 3 days will update on how to combine Fibonacci and the Camarilla and play around with the levels.
CNX NIFTY OR CASH NIFTY LEVELS
| Underlying value-0000 | Sup@ | Sup | Pivot | Res@ | Res@ | Rsi@00 |
|---|
RECAP OF TRADE ON : 06.05.13
Nifty futures no trade as traded siseways
Trade for the day 06.05.2013 :
BUY BATA INDIA FUTURES : Buy Bata India futures trading @ 769.35 cmp : Buy this stock future only above 764.70 ( Break out zone point ) Maintain a stop below 748 level and trade long for a target of 781 – 792 for day traders and positional traders can consider targets of 811 and 860 level in about 10 to 12 trading sessions. Do not short this stock future strictly.Buy only stock future.
Bata futures hits target one are of 780 for the day
SELL CANARA BANK FUTURES: Sell Canara Bank futures trading @ 395.90 cmp : Sell this stock future on a rally to levels of 400 – 402 with a tight stop above 409 level for a lower target of 387 – 379 and 367 and positional traders should look for targets of 360 also in about 4 to 5 trading sessions and positional traders stop to be maintained above the breakdown zone of 413.70 level
Canara bank futures almost bangs targets 2 zone and makes a low of 383
Tata steel futures buy call was up by 4 % and hits our target 2 zone and above
Live calls will be posted during trading hour’s :
NIFTY FUTURES CHART : AS ON 20.05.13
PARAMETERS USED TO SELECT TRADES : Relative strength index: macd : highs and lows: bearish and bullish divergence: last daily candle : reconfirmed with commodity channel index and composite index: break out levels: pivot’s with aide of supports and resistance: nifty levels also precisely cross checked: moving averages cross over’s the golden and dead crosses : stochastic index : Volumes : Divergence
