Sultans of Swing

On 12 Oct 2009 we started on our journey in swing trading through the blog post titled 'Swing Trade For 12th October' (http://archana-archdeb.blogspot.com/2009/10/swing-trade-for-12th-october.html). We still haven't completed that journey since I had suggested to hold the positions for 3/4 sessions and as of yesterday we had completed only two sessions. Today when the markets open in about a couple of hours time we will enter the 3rd trading session for our swing.

So what's the big deal to chronicle all this. There is reason because one of two open positions has already achieved its target. Oct Fut of Nagarconst was traded at the recommended buy price of 165.2 or at worst at 166. Target given was 179.5 for squaring off that position. In yesterday's trade the day high of Nagarconst was 179.5. Those of you who had bought this futures position would have closed your open position. This one position alone must have fetched you net profit of Rs 28000/- in 2 days.

But we still have one open position of Oct Fut in HDIL left. As per recommendation you would have entered trade at 358 and yesterday the position closed at 379.15. Target given for this scrip is 400. In all probability the target should be achieved in today's trading session. In case the scrip fails to reach 400 and you feel it is going to fall, then exit trade without hesitation. The arithmetic is simple. Even at yesterday's closing price you are making a profit of Rs 16000/- plus. Any time in today's trade you fear that the scrip might correct, or you are not feeling comfortable with its movement, just cover your position. You already are sitting in a neat profit of 28000+16000= Rs 44000/-. This profit has accrued in two trading sessions with capital investment of Rs 1.5 lakhs (approx). Wouldn't you agree that Nagarconst and HDIL have been Sultans of Swing!!

So all the very best in today's trading with the open position of Oct Fut HDIL. With global markets having closed in green and Asian markets presently trading also in green you should be able to add at least Rs 10000/- more to your existing profit of Rs 44000. Keep your eyes glued to HDIL.