HomeOptions TradingNifty analysis - 11 May | Nifty intraday analysis

Nifty analysis – 11 May | Nifty intraday analysis

Nifty analysis – 11 May:

The overnight position if Nifty has opened in Red. Waiting for PA to develop.

Nifty analysis – 11 May | Update (09:41 am):

Got stopped out of my short position in Nifty futures. Entered a bit early, stopped by 10 points. Holding out the rest of the positions with the day’s high as SL. Let’s see.

Maximum loss limit = 1%.

Update (09:45 am):

Nifty Futures levels

Nifty analysis - 11 May

Update (11:15 am):

Short-term target has been reached. Final HTF objective – 16k. Let’s see. Will short on the pullback, if it comes to my level.

Nifty analysis - 11 May

Update (11:57 am):

Took this pair trade.

1. Kotak Bank LONG
2. Wipro SHORT

Logic = Kotak Bank will outperform Wipro.

Risk limit = 1% of the capital.

Update (01:21 pm):

Final objective has been reached. Will keep holding on my positions, until and unless there is a spike. The pair trade is also going well at the moment. Let’s see what happens after 2:30.

Update (02:09 pm):

Didn’t expect such a deep recovery, more than half of the profit has been wiped out. The HTF is still bearish. Most likely this bounce is being used to create fresh shorts.

I am not aggressively trailing my positions. Hence, I will either exit at 1% loss or bag the complete premium.

Update (02:37 pm):

Closed out my positions in Nifty for 7.5k because I was getting anxious. No point in holding a trade if it makes you worry. 😅

I had the opportunity to close at the bottom I was thinking about carrying the position overnight, hence didn’t close at 16k Nevertheless, it’s still a good profit of 7.5k.

Still holding on to the pair trade. Will carry it overnight if the SL doesn’t get triggered by EOD.

Update (03:25 pm):

Closed the pair trade. Turned out to be a bad day. I was in 3% profit but had to close at 0% now. Totally bad day. From 15k profit to 0.

Important links:

Rajat Kumar Singh
An engineer turned trader who is passionate about creating clean and insightful charts. Rajat works as a Community Manager at TradingView, a popular charting platform with over 50 Million active users. He started this blog with the aim to educate fellow traders offering them valuable insights on different aspects of trading. Join him in his journey to becoming a better trader! ❤️

Follow me on Socials!

Interested in markets?

Subscribe to our newsletter!
Get all the new content delivered to you.

We don’t spam! Read our privacy policy for more info.

Recommended Posts

Latest Posts

Related Posts