Nifty whizzed past 7900 as if it was no resistance at all. It speared through resistance of 7900 like knife through butter. Nifty ended 107 points up at 7962 in today's session.
In morning before markets opened, I gave a call for action in post titled "Markets Look Robust - Keep on Long Side".
Hope you heeded my advice to remain on buy side. Such a post title was specifically meant for those who were short in market. Today in trade, shorts got squeezed and bears hurried to cover their shorts.
Yesterday we had bought two bank scrips in May Futures as per my recommendations. Check this post.
Both buy positions of May Futures were listed in morning post for selling, with modified targets. Targets given in this morning post were met in trade today.
Let us calculate profit generated from these 2 May Futures contracts.
May Futures Contracts Bought on 25 Apr 2016, Sold Today ( Check post here )
Albk May Fut : Lot size= 6000, BP = 58, SP = 60.5.
Holding Period = 01 trading session
Profit = (60.5-58=2.5) X 6000 = Rs 15,000/-
Capital invested for 1 lot = Rs 59,000/-
Return on Investment ( in 01 day) = 25%
Bankbaroda May Fut : Lot size= 3100, BP = 159, SP = 162.5.
Holding Period = 01 trading session
Profit = (162.5-159=3.5) X 3100 = Rs 11,500/-
Capital invested for 1 lot = Rs 98,500/-
Return on Investment ( in 01 day) = 11.5%
Consider This Carefully Again
Realize the astounding power of Stock Futures Trading in generating wealth. Do not keep yourself away from futures trading for any reason. Dump your inhibitions and jump on the bandwagon!!
I will guide you from very basics, provided you seek my help. Feel free to air your opinion or seek clarification through 'comments' section at bottom of the post.
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