Wednesday, April 6, 2016

Markets Witness Mayhem - Update on Buy Positions

On 05 Apr 2016 there was mayhem in Indian markets. Markets cried murder when RBI cut rate by only 25 bps, when the least that was expected was 50 bps.

That said let us now see what happened to ten buy recommendations which could not be bought in previous trading session as mentioned in this post.

These 10 scrips drifted down as markets slid into deep red.. And the slide allowed them to come into buy zone as recommended in this post. Here is the list:-

CANBK : Bought at 194, Closed at 185.5
JINDALSTEL : Bought at 62.5, Closed at 60.25
INDIACEM : Bought at 87, Closed at 84.4
RPOWER : Bought at 50, Closed at 48.85
UNIONBANK : Bought at 134, Closed at 129
ANDHRABANK : Bought at 53, Closed at 52
BANKINDIA : Bought at 98, Closed at 93.55
ORIENTBANK : Bought at 94, Closed at 89.55
SYNDIBANK : Bought at 67, Closed at 67.5
TATAPOWER : Buy price not obtained in trade today

However ten scrips which we bought in previous trading session as mentioned in this post were simply hammered in trade. They fell off as if from a precipice. 

Do not worry. All we need to do is watch for a bounce in markets in next trading session. The manner in which the markets rebound will determine the targets for these buy positions. 

I shall keep you updated on the situation 

The only bright spot has been L&TFH Apr futures. We bought it in previous trading session at 65 and the target was 70 .Check it out in this post. In this trading session the given target was achieved.

So profit made from one lot of 8000 shares of L&TFH Apr Futures is ( 70 - 65 = 5 ) X 8000 = Rs 40000/-

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