Today, I waited till 2pm to confirm the market trend and looked for strong movements in any stocks backed up with good volume between 1pm and 2pm. I found Alstom going upwards on a falling market. Cairn and Guj Fluro were moving strongly downwards. Target was roughly 7k per day. However, since market was 90 points down, I did not want to take too much chances with Alstom. So, I kept a target of 1500/- on it. Within minutes I saw that all trades were in my favor. So, instead of placing stop loss, I chose to close my positions and exit.
Today's Trades:
| Trade Date | Contract Descriptor | Action | Qty | Price | Value | |
| 23-Apr-12 | FUT-CAIIND-26-Apr-2012-S | Sell | 1000 | 344.1 | 344,100.00 | |
| 23-Apr-12 | FUT-RELCAP-31-May-2012-S | Buy | 500 | 344.1 | 172,050.00 | |
| 23-Apr-12 | FUT-WELGUJ-26-Apr-2012-S | Sell | 2000 | 125.3 | 250,600.00 | |
| 23-Apr-12 | FUT-GUJFLO-26-Apr-2012-S | Buy | 500 | 456 | 228,000.00 | |
| 23-Apr-12 | FUT-GUJFLO-26-Apr-2012-S | Sell | 500 | 465.3 | 232,650.00 | |
| 23-Apr-12 | FUT-ABBALS-26-Apr-2012-S | Sell | 500 | 397.9 | 198,950.00 | |
| 23-Apr-12 | FUT-ABBALS-26-Apr-2012-S | Buy | 500 | 394.2 | 197,100.00 | |
| 23-Apr-12 | FUT-CAIIND-26-Apr-2012-S | Buy | 1000 | 343.1 | 343,100.00 |
Total profit =7500 - brokerage (approx 600/-).
I started with ABBALS and CAIIND. Since market was strongly down, I kept a target of just 3 points on ABBALS. CAIIND, bounced back strongly and went 1 point upwards and also it lacked the kind of chart formation I wished (steep movement with volume on final hour). So, I kept a 1 point target and chose to exit soon. Then, I felt GUJFLO and WELGUJ were beautiful choices. Before even I could keep my SL, GUJFLO gave me a Rs. 4500/- gain. Since I had already made a gain of 2500/- my target was achieved, so, I chose to exit. That leaves me with only WELGUJ. WELGUJ has perfect chart formation. It is in line with market movement. Am confident that am on the right track.
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