Nifty Futures Intraday Trading Report June 16, 2011


RBI’s rate hike in an effort to control the inflation levels was announced this day. In other words, it meant time for the day traders to get screwed.

The session was entirely choppy with the contract running all over the place. I actually lost count of the times when I entered long / short only to find the market moving fast in the other direction. This continued for a major share of the trading session and I had incurred pretty hefty losses.

However, I got a chance to return the greetings in between 5420 and 5430 where I went short during the closing hours. This last short trade was a life saver; I was able to recoup a good share of the losses because the trade was automatically squared off in between 5390 – 5400.

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