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.