Nifty Futures Intraday Trading Report May 06, 2011

A major limitation of my method is the introduction of wide gap openings. In other words, when the market opens with a gap from the previous closing price, I am simply at loss of what is to be done.

Decided to try my luck (i.e. gamble) and shorted initially at 5528. Everything was moving accordingly and I seemed to be pleased with my decision. But disaster struck at the later hours when the contract began surging wildly in an upward fashion; it touched 5470 levels and bounced back about 100 points.

Needless to state, but the day ended with moderate losses. I plan to spend the rest of the week, trying to figure out some way to keep myself safe during such days. 🙂

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