As there is a vast difference between the spot nifty and April futures the spot nifty levels will not be useful to trade today.Hence Nifty future levels are given below to trade on 30.03.2012.
Nifty future levels for intra-day trade on 30.03.2012
No trade between 5214 and 5250(to avoid whipsaws)
Buy above 5250 with SL of 5230
for targets of 5268-5286(breakout level on the upside,add positions) 5304-5323-5341-5359-5378-5396.
Sell below 5214 with SL of 5234
for targets of 5196-5178(breakdown level on downside, add positions)5160-5142-5124-5106-5088-5070.
Happy Trading !
Sir,
ReplyDeleteI like your approach of entering into the market and I it is promising.
As exiting market is equally important, I am attempting to device some apporoaches. As you will have more insight to your approach, kindly comment on the following approaches and let me know if this can be improved.
Let me use the following convention:
B - your suggested price for buy.
T1 - your target1
T2 - your target2
T3 - your target3
Approach1:
1) When price crosses B and goes above. Enter market. Keep the stop loss as B-20.
2) When the price crosses T1, Move the stop loss to T1-20
3) When the price crosses T2, Move the stop loss to T2-20
4) When the price crosses T3, Move the stop loss to T3-20
Approach2:
1) When price crosses B and goes above. Enter market. Keep the stop loss as B-20.
2) When the price crosses T1, Move the stop loss to (T1+B)/2
3) When the price crosses T2, Move the stop loss to (T2 + T1)/2
4) When the price crosses T3, Move the stop loss to (T3 + T2)/2
Thanks
SGRaman
Hi SGr,
ReplyDeleteNice approach in both ways...
I would like to move SL after T1 to B plus brokerage so you do not loose from your pockets...
After T2 to T1 and after T3 to T2 and so on...
Regards
K B Raut
Thanks Sir.
ReplyDeletewith regards
SG Raman