Nifty Futures Intraday Trading Report June 06, 2011


A volatile day with the contract touching the “stay away” zone and the “go short” zone in an alternating manner. Initially I shorted the contract in between 5490 and 5500. After playing below my shorting level for a significant amount of time, the value of the contract began to surge and hit my stop loss. During the closing periods, the contract scaled back to the initial “go short” zone, only to close above it (in the “stay away” or “chop zone”). Thus I got whip lashed two times today.

The last hour gave me an opportunity to cover a significant portion of the losses incurred in the morning. I went long in the “buy” zone which lay in between 5520 and 5530. The trade was squared off by the system in between 5530 and 5540.

Forex Update: The opening price of the instrument plays an important role in my day trading method. I usually use the data found at forexpros. This website was quoting the opening price of the eur / usd pair as 1.4615, when the original opening price was 1.4653. By afternoon, I realized that my mistake. Let me see how the rest of the session is going to pan out.

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