Nifty Futures Intraday Trading Report May 03, 2011


Today was meant to be a highly volatile day thanks to the RBI repo rate announcement scheduled at 11am. I shorted the contract at about 5703 initially. By the time the announcement came, the value of the contract began to swing wildly. The stop loss placed at around 5722 was taken out. I shorted once again at 5722. Squared off the trade when the contract touched 5625. 🙂

On second thoughts, I could have waited even longer before squaring off the trade. It seems the majority of the traders were in a joyous mood to sell and we even breached the 5600 level. The contract closed in between 5560 and 5570.

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