Tuesday, April 12, 2016

Action Required to be Taken In Market Today

Indian markets spurred into action in the second half of last trading session. It was welcome relief to see green shoots sprouting out.

Let me first give the current status of 19 futures position that we are holding as per my recommendations in this post.

TATAPOWER Bought at 62.5, Closed at 67.85
JINDALSTEL : Bought at 64, Closed at 66.25
INDIACEM: Bought 87, Closed 92.35
RPOWER: Bought 50, Closed 51.6
IOB : Bought 30,Closed 30.75
ALBK: Bought 57,Closed 56.65
IDBI: Bought 71,Closed 68.05
PNB: Bought 87,Closed 83.55
SBI: Bought 195,Closed 189.1
UCOBANK: Bought 40,Closed 39.1
CANBK: Bought 194,Closed 188
KTKBANK: Bought 104,Closed 105.2
SYNDIBANK: Bought 67,Closed 68.65
BANKINDIA: Bought 98,Closed 93.15
ORIENTBANK: Bought 94,Closed 90

UNIONBANK: Bought 134,Closed 130.1
ANDHRABANK : Bought at 53, Closed at 53.45
HEXAWARE :  Bought at 268, Closed at 252.2
BANKBARODA : Bought at 150, Closed at 150

Action to be Taken Urgently Today in Trade
Indiacem Apr Futures was bought at 87 and the target given was 95 in this post. In last trading session Indiacem closed at 92.35 which means it is giving us substantial profit. Hence my recommendation is to square off this position at the opening price today.