Nifty Futures Intraday Trading Report July 27, 2011

A good share of traders missed the down-move that occurred in the nifty future contract’s value yesterday. They were more than willing to short like anything on this day – so that they could recreate what happened on the previous day. The other Asian indices were also trading meekly; what more does an average day-trader in India need to keep on holding to his / her short trades?

Despite opening 5570 – 5580 range, the value of the contract began to dwindle in no time. Initially, I had entered long in between 5570 and 5580. Although, the technicals were showing a potential for huge up-side movement, the exact reverse occurred. Keeping a 10 point stop loss helped me to bail out of the losing trade.

Then again, I entered long in between 5520 and 5530. The contract touched 5560 levels before settling down. The last long trade got squared off in between 5540 and 5550.


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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