Nifty Futures Intraday Trading Report June 20, 2011


It seems that ‘someone’ or ‘some group of people’ with ‘vested interests’ took most of the traders for a ride of their life today. During the early periods of the trading session, certain rumors regarding disagreements in between Indian and Mauritius government regarding tax treaties prevailed in the air. The contract fell 207 points (yes, you read that right) and since it was free falling, I decided to stand back and enjoy the show. I am certain that many may have made good fortunes today by mindless selling – actually, a few traders, with whom I trade with made quite a lot of cash today.

Anyway, after touching 5180 levels, the contract began to surge ahead. I shorted the contract when it rose back (in between 5270 and 5280). But then I was jolted from my seat since that trade ended with the contract triggering my stop loss. Okay. I decided to enter long in between 5280 and 5290 since I thought that the momentum may push the markets to higher levels. After touching 5312 (which is a major resistance point according to gann sciences), the contract’s value began to dwindle once again. Within no time, the stop loss which I had placed for my long got triggered. I entered short once again and the trade was squared off in between 5240 and 5250. No bad since I could cover the losses incurred during the day and live to fight for another day 😛 .

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One Response to Nifty Futures Intraday Trading Report June 20, 2011

  1. Jim Watt says:

    I thank you for the informative post ..

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