Wednesday, April 13, 2016

Nifty Rallies Beyond 7800 - Celebratory Mood in Market

Nifty will open with a gap up - that was my prognosis before markets opened today. That is exactly what Nifty did - opened with 70 points gap up.

My concern was that Nifty should maintain gap up prices during the entire day. Fortunately Nifty opened strongly and kept going from strength to strength.

Finally Nifty closed at 7850, gaining 141 points.

Before markets opened for trading, I had posted Urgent action is required to be taken today . I had given sell targets for three open buy positions of Apr Futures. These scrips achieved their respective targets today in trade. Details are given below :-

Tatapower : Bought at 64. Tgt given 69/70. Sold at 70. Lot size - 8000 
                     Profit = (70-64= 6) X 8000 = Rs 48,000/-

Jindalstel :   Bought at 62.5. Tgt given 70/71. Sold at 70. Lot size - 7000 
                     Profit = (70-62.5= 7.5) X 7000 = Rs 52,500/-

However given sell target of Rpower was missed by 5 paisa in trade today.. Rpower :Bought at 50. Tgt given 53/54. Day High 52.95 

Markets have closed on a very optimistic note. On Thursday and Friday markets are closed for Dr Baba Saheb Ambedkar Jayanti and Ram Navami respectively. So next trading session will be on next Monday ie 18 Apr 2016. Till then enjoy the profits and long weekend !!

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