Day Trading Recommendations For 16 Oct 2009

In case you are convinced that Sensex and Nifty still have 5 to 10% upside left before correction then do participate in day trading of strongly bullish scrips. But you must be very quick in taking trading decisions during the day and lock small profits. Consider the following scrips for day trading today:-

Nagarconst. Buy Oct Fut of Nagarconst at 174 and book quick profit by exiting around 178. Even with this small target you can make Rs 8000/- since the lot size is 2000. If the scrip comes down to 168.25 you can again buy and exit quickly at Rs 170/171. Finally you can buy again at 164/165.

HDIL. Buy Oct Fut of HDIL at 378/379 for a target of 384/385 and then 397/400.

LITL. Buy Oct Fut at 531/532 for a target of 544/550. In case the scrip shows lot of strength then you can get target of 563 and then 575/579. Going down, the level to enter trade will be 513/514 for quick profit of Rs 10/-.

ICSA. Buy Oct Fut of ICSA at 208/209 for a quick target of Rs 6/10.

Taking Stock : Day Trading Tips For 15 Oct 2009

Market today surprised most of us. From a moderately strong first half an hour, it petered out into a bearish slide. It gained some lost ground in the last hour to close flat for the day. Nifty lost 9 points and Sensex was 36 points down at close. Since the direction of the market was opposite to what was expected, day trading tips given in the last post for today did not do much. In fact the net business would show no profit no loss. Lets evaluate the day's accounts :-

LITL. Supposing you bought at the recommended buy price of 534, the scrip closed at526.7. If you have closed your position then the loss in this position with lot size as 638 should be around Rs 5000/- including brokerage (7.3x638=4657).

HDIL. If you bought HDIL Oct Fut at 378 then there is loss of about Rs 600, including brokerage, from this position as the scrip closed at 377.55 and lot size is 774 (0.45x774=348).

Punjlloyd. Presuming you bought one lot of Punjlloyd Oct Fut at 290 then you would have booked a loss of about Rs 1800 including brokerage. This is because the lot size is 1500 and the scrip closed at 389.

Nagarconst. In case you bought Oct Fut of Nagarconst at 175.5 and exited at 179.5 then with a lot size of 2000, you would have made a profit of about Rs 7700 including brokerage (179.5-174.5=4x2000=8000).

Net Profit= 7700-5000-600-1800= 300. In other words like a flat market closing the account book also closed flat with no profit no loss.

Day Trading Recommendations for 15 Oct 2009

With Asian markets trading in positive territory and US and European markets closed on strong bullish sentiment we are also expecting some decent up move for Indian markets today. In the back drop of this scenario , given below are some of the day trading picks for 15 Oct 2009:-

LITL. Buy Oct Fut of LITL at 534/535 for initial target of 553 and then finally 579.

HDIL. Buy Oct Fut of HDIL at 378/379 for initial target of 390 and then final target of 400.

Punjlloyd. By Oct Fut of Punjlloyd at 290/291 for initial target of 314 and finally 325.

Nagarconst. Buy Oct Fut of Nagarconst at 174/176 for initial target of 180, then 185 and finally at 190.

Happy Trading and Happy Diwali !!!

Sultans of Swing

On 12 Oct 2009 we started on our journey in swing trading through the blog post titled 'Swing Trade For 12th October' (http://archana-archdeb.blogspot.com/2009/10/swing-trade-for-12th-october.html). We still haven't completed that journey since I had suggested to hold the positions for 3/4 sessions and as of yesterday we had completed only two sessions. Today when the markets open in about a couple of hours time we will enter the 3rd trading session for our swing.

So what's the big deal to chronicle all this. There is reason because one of two open positions has already achieved its target. Oct Fut of Nagarconst was traded at the recommended buy price of 165.2 or at worst at 166. Target given was 179.5 for squaring off that position. In yesterday's trade the day high of Nagarconst was 179.5. Those of you who had bought this futures position would have closed your open position. This one position alone must have fetched you net profit of Rs 28000/- in 2 days.

But we still have one open position of Oct Fut in HDIL left. As per recommendation you would have entered trade at 358 and yesterday the position closed at 379.15. Target given for this scrip is 400. In all probability the target should be achieved in today's trading session. In case the scrip fails to reach 400 and you feel it is going to fall, then exit trade without hesitation. The arithmetic is simple. Even at yesterday's closing price you are making a profit of Rs 16000/- plus. Any time in today's trade you fear that the scrip might correct, or you are not feeling comfortable with its movement, just cover your position. You already are sitting in a neat profit of 28000+16000= Rs 44000/-. This profit has accrued in two trading sessions with capital investment of Rs 1.5 lakhs (approx). Wouldn't you agree that Nagarconst and HDIL have been Sultans of Swing!!

So all the very best in today's trading with the open position of Oct Fut HDIL. With global markets having closed in green and Asian markets presently trading also in green you should be able to add at least Rs 10000/- more to your existing profit of Rs 44000. Keep your eyes glued to HDIL.

Taking Stock:Day Trading Tips For 14 Oct 2009

In the last post on 13 Oct 2009, I had given some recommendations to buy Oct Futures on 14 Oct 2009. Now that the market has closed for the day its time to take stock of the day's happening vis-a-vis those recommendations. Throughout the day the market showed remarkable strength with Nifty closing 64 points up (+ 1.27%) and Sensex adding 205 points to yesterday's close i.e. 1.2% up. However even in this belligerent bullish mood, we found some sectors and scrips dipping into red, which was little disheartening. Be that as it may, let us now evaluate the performance of our day trading picks :-

HDIL. Buy for Oct Futures of HDIL was given between 369 and 376. Day low was 373.4, day high was 382.35 and it closed at 379.15. Since the lot size is 774, in the worst case scenario you would have made Rs 2438 (379.15-376=3.15x774=2438). And if you were lucky you would have made Rs 6000 plus.

Nagarconst. Buy price recommended was 165/167 but day's low was 169.1 and so there was no trade. No profit no loss!

LITL. Recommended buy price of 501/509 was not met in trade today since the day low was 516. Again no profit no loss!

Net Profit from day trading on 14 Oct 2009 ranged from Rs 2000/- to Rs 6000/-plus.