Trade one - Taking positions

On http://money.rediff.com, I saw that there was a recommendation to sell Reliance Capital. I do not believe in tips. However, these are good starting points for quick research. I looked at http://in.finance.yahoo.com and looked up this stock. The stock was overall week. Its volume was strong (above the 3 month average). The stock was in red. The five day and 3 month chart were also pointing downwards.

Here are the charts of reliance capital as I saw it:






So, this will be our short selling candidate. Now, I need to find one to go long. My ICICI Direct account kept on flashing that I could consider buying NTPC. So, I checked NTPC Charts.





The NTPC charts are showing a upward move. Although the 3 month chart is still downwards. This sounded alright to me since I hope to close my trades in the next three days and the projection for next 3 days looks to be upwards.

So, here are the actual positions as I entered it at 15:13 PM:

Sell 1 Lot of Reliance Capital Futures at 351.65 (lot size = 500)
Buy 1 Lot of NTPC Futures at 167.2 (lot size of 2000)

As the day ended, here's how I stand:
Relcap = 351
NTPC = 166.50

So, my profit/loss (p/l) = Rs. 325 - Rs. 1400 = A loss of Rs. 1175 /-

Let's see what happens on Monday!