NSE Index Technical Levels Update - 07 February 2011

Nifty Futures - February Contract
Swing : DOWN
SAR : 5566
Low risk entry : 5480
Target : 5330

Bank Nifty Futures - February Contract
Swing  : DOWN
SAR :10799.95   :))
Low risk entry : 10600
Target :10320


  1. @ Anuj,

    Good morning,

    BANK NIFTY saved by 05 paisa :) !!!

    Thanks for update.

  2. @abhishek
    All Izz Well ! :D


  3. @ Two kinds of traders would have survived that kind of turn from SAR
    1) a person who puts a stop in the system and never sees the market intraday, due to work commitments etc.
    2) a person who keeps mental stops, and finds difficult to apply a stop at the exact point.

    Many times before, I have placed a stop and market has taken it out and reversed back.I guess it was payback time after so many trades.

  4. Good eve,

    Perfectly said >> *it was payback time after so many trades*.


  5. Good Morning Anuj!
    Congrats on payback - or shall we call it paycheck?

  6. Good morning everybody
    r m :),are you trading that option strategy from icharts/musti/hansraj? Do you day trade or take swing trades?

  7. @Anuj
    No I could not trade Hansraj's hedged options because that requires a cool handling of futures, whereas I jump around at every tick!
    Trying to day trade with market profile.

  8. @rm
    yes, one of the person said in that post's comments,that most of the profits were due to Nifty futures movement rather than out of put/call premium going to zero.Why bother about the hedge just trade with the same nifty future strategy?

    I guess you use Amibroker for Market profile.How do you manage data?.Have you subscribed for data?Or importing from Yahoo?

    Check the following link for Amibroker, I think some time back Prabhakar was also asking about "Amibroker formula database".Follow the link below.


    Statutory warning - If you take the above link seriously, it can drive you crazy! :)

  9. @Anuj

    Thanks for the link, and don't worry, nothing can drive me crazier than what I already am!

    I subscribe to live 1 minute data from investbulls.com. Pretty cheap, just costs me 600 Rs p.m. You can also give it a try, they charge 850 for metastocks (they know that only rich guys use metastocks!)

    I use "Kaka"'s AFL for market profile, they are not as accurate as CBOT stuff, but still give quite a decent picture of markets.

    re Hansraj's strategy, the best point in that was his ability to trade it without being online. I tried to find out a broker who could intelligently hold NF at a level with least costs but found that the dealers just did'nt know what i was talking about!!!

    Moreover in Hansraj's strategy you need not spend hours poring over various tech stuff, you make money which ever way the markets go, so that part is good.