Nifty Futures Intraday Trading Report March 31, 2011

Blessed are those intraday traders who are able to make money trading the nifty futures contract. This is one of those highly choppy days when the novice as well as the experienced traders could easily get fooled into buying / selling the contract at the wrong time.

The day started off pleasantly. 5812.33 was an important point to look out for. We must be long if the market trades above this point and we must go short if the value of the contract breaks down below this point. Initially, I entered long above 5813 and squared off the trade by the time the value reached 5860.

After touching the day’s high value of 5879, the value began to dwindle. Now, at this point, I could have shorted; but I did not do that. Never try to catch the top or bottom of the market;it can always go higher / lower than one can ever possibly imagine.

I waited for the contract to touch 5813, so that I may go long (once again, as done in the morning). Needless to state, the contract touched the desired point. I bought it envisaging the swift upward movement. However, the value of the contract fell past 5812.33. By the time it touched 5795, I squared off the long for losses. Once again, I reentered short at 5795. However the contract began to scale upwards to touch 5812.33. This went on for the rest of the day with the contract alternating in between the buying and selling zone. Keeping in tune with the tradition, I lost some sum in the market.

Need an idea about how nifty performed on this day? Check out S&P CNX Nifty Chart.

One Response to Nifty Futures Intraday Trading Report March 31, 2011

  1. Pingback: Futures Trading Questions | Best Futures Broker

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