Before markets opened, I gave a call for action today morning in this post. Out of 4 buy positions of Apr Futures held, 3 long positions were listed in this post for selling, with modified targets.
Out of 3 long positions recommended for selling, 2 scrips met their target in trade today. Let us calculate profit generated from these 2 Apr Futures contracts.
April Futures Contracts Bought on 4 Apr 2016, Sold Today ( Check post here )
IDBI : Lot size= 8000, BP = 71, SP = 73. Holding Period = 11 trading sessions
Profit = (73-71=2) X 8000 = Rs 16000/-
Capital invested for 1 lot = Rs 1,02,000/-
Return on Investment ( in 11 days) = 17%
April Futures Contracts Bought on 5 Apr 2016, Sold Today ( Check post here )
UNIONBANK : Lot size= 3000, BP = 134, SP = 136. Holding Period = 12 trading sessions
Profit = (136-134=2) X 3000 = Rs 6000/-
Capital invested for 1 lot = Rs 76000/-
Return on Investment ( in 12 days) = 8%
After squaring off 2 long positions today, we are left with 2 more long positions in Apr Futures. Fresh targets for these remaining 2 Apr Futures positions will be given on tomorrow morning before markets open. So keep watching this space.
Buy Recommendations For May Futures Given Yesterday
I had recommended buy prices for 3 scrips in May Futures contract in this post Banks on Swing - Buy Good News And make Money
Out of these 3 recommendations, 2 scrips of May Futures could be bought at their recommended price. These are :-
- Albk bought at 58. It closed today at 59.2
- Bankbaroda bought at 159. It closed today at 159.75