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.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: