Friday, 20 April 2018

Nifty Future in a Channel

At the start of this current week, I spotted a channel formation on 30-minute chart like this,


After that it gave 3 opportunities to trade this channel formation.  2 on short side and 1 today on long side like this,


For intraday trading we can use this vital information of it trading in a channel.  Whenever the prices approach the channel extreme and confirm rejection or inability to move further on our trading timeframe of 3-min, we can initiate the trade with high conviction like this, First short at channel extreme.

Today also it gave a nice setup to go long.



So keep a close eye on this channel.  As long as prices respect this channel, look to trade this high probability setup at channel extremes.

Tuesday, 17 April 2018

Nifty Future 17042018


It opened above PDH but got rejected immediately.  When on pullback it failed to break and stay above PDH twice, a short trade was possible as marked which moved well.  At BRN 10500, spot did give BOF setup but future did not and it reversed in V-shape from there.  Also BOF of DO/HOD came very late.

Monday, 16 April 2018

Nifty Future 16042018


It opened with counter trend full gap, but did not get any follow through and started trading above PDL comfortably.  It then formed a range high above PDL and direct BO as marked was a good setup to go long which moved well.

Thursday, 12 April 2018

Today's trades in MGL & INFY futures

Today I took intraday trades in MGL & INFY futures.  Let's understand what made me take these trades.

1) MGL:  Here I tried to trade the news flow.  Promoter wanted to sell some stake and finally a bulk deal happened yesterday and this is how stock price reacted to this news and big bulk deal.


All the big selling that had to happen, happened yesterday.  Now today if it doesn't break its yesterday's low, we can confirm that there are not any sellers left here to take the prices down.  So if prices are not going to go down, it can only move to opposite.  This is what happened actually.  Once I recognized this, I entered as marked on the chart.


2) INFY: It is going to announce its quarterly results tomorrow.   So ahead of the big event like this we can expect the traders to build positions in the stock.  Also ahead of the major event, many a times, prices move in a trending fashion.  Now once the price confirmed this, I entered as marked.


If you want to trade in this kind of high probability trade setups, you can join my paid Telegram group for trading in stock and Index futures with precise levels for entry and exit.  If you want to learn how to spot such trade setups, then take the help of video tutorial and mentoring program.


Nifty Future 12042018


It opened within previous day's range and traded between PDH and BRN for first half of the day. After that it broke out from PDH and continued to move without giving a pullback to enter.

Wednesday, 4 April 2018

Nifty Future 04042018

At start of this week, I posted a short term analysis of Nifty on Twitter with this chart.  You can check the tweet here,  https://twitter.com/charttechnical/status/980039016421638150


Nifty was trading in a downward trending channel in hourly chart, so expected an area around channel extremes to work as a support and resistance.

Today, it opened just above upper channel extreme in an attempt to break it, but failed as you can see on this chart,


With this above information of failure to break higher timeframe level, one could have traded Nifty with the help of price action and Decision Points. Let's see how on our 3-min timeframe chart of Nifty spot.


Usual trade setup per DP trading system on Nifty future chart which allowed to short very close to high,



Tuesday, 3 April 2018

Nifty Future 03042018


It opened and traded within previous day's range for most part of the day.  BOF of DO/LOD as marked was a good setup to go long.