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Talk about Futures & Options in securities. Discuss Index Futures.

Thread: Let's talk Nifty..

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#2 (permalink)

21st August 2007, 01:22 AM

pkapadia

Join Date: Aug 2007

Location: Pune, India

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Nifty Swifty

Nifty proved to be very 'swifty' today and went up to 4260 levels soon after opening. That must have kept most retailers out of early trades. But what's worrisome is that it came down some 50 points to finally settle at 4209 (spot). Another factor to think about is that the Nifty future is now only at a discount of less than 3 points. Since it has stopped near the crucial level of 4202, tomorrow's closing will decide if it is indeed headed over to 4330 levels or reversing back to 4050 or below!

My take is if it opens around 4278 (+1.6%), buy with a strict SL, and sell it beyond 4300 (R2 is 4347). But if it has trouble sustaining levels then short it on the way down. S1 is 4125.
Paresh

Last edited by pkapadia; 21st August 2007 at 01:23 AM. Reason: wrong number posted

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