PreOpen Based Nifty Future Intraday Trade Plan- 13 Feb

Add This To Del.icio.us Share on Facebook StumbleUpon This Add to Technorati Digg This

Vinayak Kelkar asked me on Friday ……

“As per your pre open trading theory it is working very fine .Today your sell level and support level for nifty spot are nearly same at that time we have to go for sell or look in some other parameters for confirmation.Also as per 5DMA i short nifty on 5380 nifty but i see support near 5352 level so i covered on 5360 gain only 20 points.I need your help to know where i have to keep position for confirmation where i have to look or what indicator i have to use for that..As per your guidance now i am looking in nifty spot .but were to cover position i have some confusion pl give me help  “

Dear Vinayak,

First of all I don’t answer any queries on articles which comes me to through Contact Us form as it is meant for some other purposes other than related to articles. I request all our readers to ask me through comments, I try to reply them at my earliest.

Now about your query….

1. My Preopen based Nifty Future Views are purely based on mechanical system … it is having a predefined formula… where whatever recommendation come … I do not make any changes in it manually. And about the Support and Resistance levels… these I derive by manually scanning Charts on a broader perspective. And as you said Support and sell level were same on Friday… so why confusion there as you know supports if broken become resistances. So it was double confirmation for you to go short.

2. For covering of position you have to book at least part profit first. Then look for the previous Supports and resistances …. as Friday I mentioned 5345…. So Nifty Came there and bounced back and I mentioned that I booked profit there.

Hope you got some clues.

 

Today’s  My Nifty Future Trade Plan based on PreOpen Values.

How Do I trade Using This?

These are Mechanical Levels.

• As Per Recommendations I trade Only Fresh Trades.
• Never Catch Running Trades.
• I Book Part Profits As Per Targets.
• All Levels Are Spot Levels.

 

Keep Eye On These Levels for Today’s Session:-

TraderAdda Support Level      :- 5340, 5270

TraderAdda Resistance Level :- 5400, 5425

Performance Update for at 3.30 PM:-

Nifty Sell triggered at 5359.80 and missed our  TGT T1 5348.40 by 3 points, so we consider this as Stoploss Triggered Trade. (Low made 5351.40) and loss made  in sell side 43.60.

Again buy triggered at 5403.40 and made first TGT T1 5414.90 (High made 5421.05) points made today 11.50 on buy side

Points Today:- (-32.10)

Loss in Rs:-    Rs (-1605)/- in One Lot Only.

We consider only Targets Achieved

(Or SL Hit).

Enjoyed? What next?

If you like our articles at Traderadda.Com, the effort we are taking for our Readers, help us spread TraderAdda.Com with Fellow Traders.

How you can do it:-

Share Traderadda to Facebook, Twitter, or with your friends, or Submit it to Stumbleupon , DIG it, Google Plus ONE  Circles … you can do it by clicking buttons available on the Left or in the Post.

For Further Reading,

Free Intraday Tips, Free Nifty Calls, Nifty Levels/View