Bank nifty opened below 9100 and slowly inched up and triggered the buy above level and hit T1.
9140 to 9172 =32x50=Rs. 1600
Second lot stop loss moved to cost
trailing Stop Loss triggered for second lot.
Again, bank nifty moved down and then above the buy above trigger and Hit T1.
9140 to 9172 =32x50=Rs. 1600
Second lot stop loss moved to cost
trailing Stop Loss triggered for second lot.
Then again, bank nifty moved down and then above the buy above trigger and just missed target 1 by 2 points and then moved down and closed at 9125.
So we will consider that both lots were booked at a loss around closing of 9125.
9140 to 9125 =15x100=Rs. 1500 (Loss)
So net profit =+Rs. 1600+Rs. 1600-Rs. 1500= Rs. 1700
Noting from the above, I think we need to follow a different approach for trading bank nifty, because today there would have been mindblowing profits if one had booked both lots at target 1 itself on both occasions. I will try to formulate a strategy for Bank nifty shortly. Till then we will follow the same strategy we follow for nifty.
Nett profit for 19/01/2010 using the bank nifty future tips is Rs. 1700 (Using the suggested 2 lots)
