- Do not enter into more than one position at a time, whatever be the lure.
- Look for established clear momentum or strong swing.
- Do not think of trading intra-day. If your target is achieved intra-day it is bonus, but do not have that as a compulsion.
- Do not trade any news, good or bad.
- Have an amount of Rs 1 lakh in your trading account to successfully trade stock futures.
Again on 27th July my subscribers entered this scrip at 826 as per my recommendations and booked intra-day profit ranging from Rs 2500/- to Rs 6000/-.
On both the occasions we had entered trade in Ultra Tech purely on technical reasons. Ultra Tech was falling at rapid pace and even the general market was weak. But the termination point of second down wave as per Elliot Wave principle was calculated with help of Fibonacci retracement. This gave us our buy price from where technical bounce was sure to take place. And so it did!
We could have opted for higher target but fundamentally cement sector is weak in monsoons and general market also had a negative bias. So we took precautions and exited at a guaranteed level, thereby eliminating all risk factors attached with holding for higher target. Yesterday the scrip reached high of 878, thereby achieving its resistance level of 30 day moving average. But by exiting early we still could manage to extract average of about Rs 8000/- from two trades in one scrip. That works out to 19.5% return on investment of Rs 41,000/-.
Links to actual trades are given below :-