Trading Updates as of Feb 10, 2010

Today's strategy are:

Looking for an opportunity to SHORT around the 4820 area. A nice SL would be 4830 or so. Today might be a down day.

Well, Nifty opened around 4820, but did not sustain. So I missed the trade.

Nifty is at 4755 now. I will look for an opportunity to SHORT around the 4800 area with SL of 4830.

Itz too bad that Nifty only came till 4788 before retracing. I could have shorted 50 shares at 4788, but I missed this as well :)

Nifty now at 4797. Will wait for 4810-20 now to go short. Nifty can zoom if it crosses 4830, so I will simply reverse trade above 4830. To simplify, Going short around 4810-20, Sl = 4830. Going Long above 4840, with SL around 4820.

Placed an order to short 100 Nifty @4818.95. Will keep a SL of 4830 Nifty Spot, if this trade goes through.

Umm, what can I say...Nifty FEB came all the way upto 4815 and backed down. Now trading at 4805.

Came all the way to 4816 and missed 4818.95 by a whisker.

Traded SHORT 100 Nifty FEB now @4818.95

As Nifty FEB is trading at a 2 point premium, Stop Loss of 4834 should be alright.

Premium turned to discount. So now Stop Loss moved down to 4830.

Covering 50 Nifty FEB by BUYING at 4760.25

Will hold 1 lot of Nifty SHORT for tomorrow. I will see if Nifty can break the 4730 levels tomorrow.