Nifty Futures Intraday Trading Report May 04, 2011


Keeping in tune with yesterday’s bearish sentiments, the value of the contract began to plunge to lower levels. Initially I bought at around 5546 (bear in mind that the opening price of the contract 5548.95). It touched my stop loss which I had placed at about 5526.

Once again I went long from this point. My target was 5625. Yes; it might appear to be too far away but during the latter stages of trading, the contract surged and touched 5592 before plunging once again to the lower levels. The trade got squared off at 5538.

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