Trading Strategy for Nifty Future -02nd March’10
02 March 2010
The symbol of all relationships among such men, the moral symbol of respect for human beings, is the trader. We, who live by values, not by loot are traders, both in manner and spirit. A trader is a man who earns what he gets and does not give or take the undeserved. A trader does not ask to be paid for his failures, nor does he ask to be loved for his flaws. A trader does not squander his body as fodder, or his soul as alms. Just as he does not give his work except in trade for material values, so he does not give the values of his spirit—his love, his friendship, his esteem—except in payment and in trade for human virtue, in payment for his own selfish pleasure, which he receives from men he can respect. The mystic parasites who have, throughout the ages, reviled the trader and held him in contempt, while honoring the beggars and the looters, have known the secret motive of the sneers: a trader is the entity they dread—a man of justice.”
Refresh your memory and see I was writing and clearly mentioned :4798-4782 are crucial support.It kissed 4797 & was hovering around these levels for 4 sessions.
Market leader Reliance not broken our Support of 961…Yes it kissed that level.
On Budget day it was written it will have to break 4830 level then only problem for Bulls.
Major Hurdle was 4968.Just see after crossing it skyrocketed upto 5002 in minutes only.
At 13 hrs on Friday sent one Mssge to our Subscribers :
-Sell Nifty Future at 4990,stoploss 5025.(It crashed to 4930 in just hrs )
Sell Reliance at 995 ,stoploss 1000 ,Sell Refinery Stocks/Real Estate stocks/Reliance Capital ..When Nifty was at 4990 & What happend to these stocks…u all know.
Above 4968 level.It will zoom to kiss 5002-5021-5039 -5045 level in Intraday trade.
-Between 5000-5025,Sell short NF with stoploss of 5045.(Risk will be of Rs.15-20 points)
Two Consecutive close above 5025 will take to 5144-5184.
Now support for Traders/Swing Traders at 4884-4873.
Students of Technical Analysis just see on Friday it had broken Neckline of Inverse Head & Shoulder.
-Target :5045 very soon.
-Will tell u more tomorow about this formation…till then search the formation on Daily chart.
Updated at 6:48/2nd March/Baroda
