Nifty Futures Intraday Trading Report July 04, 2011

A bad day. For the major share of the trading session, the contract was wandering aimlessly while displaying bearishness and bullishness at the same time. Lack of trading volume was the primary culprit. On days such as these, we cannot take a good trade because the contract will keep on touching either sides all the time. The fact of the matter is…our markets are dominated less by people who follow the trend and more by people who try to catch the tops / bottoms. Days such as these will work wonderfully to their advantage; while the majority will be left wondering about what to do!

I intended to go long in between 5670 and 5680. Shorting point lay in between 5660 and 5670. As traders may have noticed, we were touching these values throughout the day in an alternating manner. Needless to state but I got chopped up in the process.


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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