Nifty Futures Intraday Trading Report July 08, 2011

A day when nifty futures contract kept on traversing to lower lows with the passage of each hour. This was supported to a large extent by the downward directional movement in the currency markets.

Naturally, I kept on buying at lower levels. Not because I was trying to catch the bottom of the market, but because the math was telling me to do so. Initially I lost 20 point; this I was able to recover during the subsequent trading session. Later on, towards the closing periods, the value of the contract began to fall even further towards to the downside. My 10 point stop loss got hit twice after recovering the initial 20 point loss.

The last hour also did not offer me a chance to recoup the losses made. And retrieving the lost 20 points will be my top priority while trading in Monday.

Always remember readers…cut short your losses if you wish to maintain your cash reserves. And I did not get a chance to do so today .. 😦


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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