I was hoping for a break below 4730-40 area in the Nifty Futures today. Apparently that's not going to happen due to strong global from the HangSeng, etc. Will decide upon a strategy after looking at the market open.
A short around 4810-20 area with SL around 4830 is again a possibility. In case, Nifty Futures crosses 4830 and sustains, then another rally to 4875-4950 is possible. So I will look to BUY Nifty above 4830 levels.
Placed an order to SHORT 50 Nifty FEB Futures @4820.
I am keeping SL as 4830. I will BUY 100 Nifty FEB at 4840.
Traded: SELL 50 Nifty FEB Futures @4820
Traded: SL hit cover SHORTS - BUY 100 Nifty FEB Futures @4830
As the 4840 level did NOT sustain, I have NOT traded the BUY call @4840
Placing BUY 100 @4845 - not at 4840 as stated earlier. Stop Loss for this trade will be 4825.
Cancelling the BUY order @4845 now......Nifty moved back below 4820...
Wednesday, February 10, 2010
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