Nifty Futures Intraday Trading Report May 11, 2011

Quite an interesting day which ended with a slight misfortune. The contract was totally range bound today and in other words, it was one of those days to make wholesome amounts. Initially I shorted at 5547; which I had covered back in between 5520 and 5530. I went long from this point to cover this trade back at the 5547 level.

Twice I could short at 5562 to square off at 5547. The third time I tried to do it – and it ended in failure. This last trade was done during 15:00 hrs and the frustrated traders (who got chopped during the entire day) began to push the contract to higher limits. Towards the closing periods, I wanted to short once again at 5576; but the contract did not touch this point the second time (I usually await additional confirmation before shorting / going long).

Haven’t yet started trading the EUR/USD pair – I plan to do so in the oncoming hours. Looking at the trading frame suggests that the pair is displaying exceptional weakness.


About Praveen Pious Francis
A part-time blogger who has a wide range of interests including investing in the stock markets across the globe and broadband technologies in India.

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