A plunge in Indian Stock market

[intime]

Is anybody bullish on Nifty till Budget ??

 

[sspms2002]

Nifty made lifetime high today

Yes i think ITC would have played a big role in it today..i watched ITC till end..and it was too too too strong....
Also banks as always were in deep green..

 

[sspms2002]

Is anybody bullish on Nifty till Budget ??

Yes , i think the market as a whole in getting good inputs from government..so i am only seeing upside..unless some external factors/dramatic crash happens in another country...

 

[sspms2002]

Today was a bad bad day of trading of me...
It all started with ITC...I had a delivery of 300 shares from 371 yesterday..it open gap up of 3 rs... my Bias that it will go higher was reinforced as it was earning day today...

so as it came back near to 371 again..i added 300 more shares..I had to get out at 368..with a loss of 1500+..

Again i took more position all on the long side..and it showed little profit and then used to back track...

Later the earnings came and it went berserk to downside...but till then i had lost my apetite for trade in it.. and had closed the day...

Stocks Traded: ITC
P&L : Red 2305 after commmissions

This stock (ITC) is proving out to be my nemesis...

 

[sspms2002]

Today was again a slow day as a whole..Even the market was rangebound..
I opened up with some profits on TATA metaliks..

and later had some in ITC..

During afternoon i only lost half my morning profits..

Stocks Traded: TATA Metalik , ITC , century Ply etc..
P&L : Green 856 after commissions

 

[sspms2002]

A few of the things that i have realized after trading for 3 months:

I make small small profits on 2-3 green days in a week and then on another day i lose them all on my RED day...

And i do pay huge brokerage so it adds up to loss...and we become net negative for the week..

What is think is that i am not stopping out at correct time..instead of delaying the stops..and eventually get out with a big loser...and on the other side..i tend to book small profits...I read it that this management is doomed for failure..
and indeed i should do tight money management..

Tight stops...may be enter again if needed to...As of now i would not care about the other part...ie let the profits run...

 

[timepass]

Since you are trading intraday, why not try short selling too ?

 

[sspms2002]

Since you are trading intraday, why not try short selling too ?

Hi Timepass..Yes iam doing both LONG and SHORT...But i guess i have not taken Short positions when i get biased...usually when i see recommendation from experts..or good earning calls...etc..

As of now i am also doing/trying one more thing...Buying stocks at the end which are strong for the day...Till now no success in getting good profits out of it..Usually the stocks tend to Gap Up...but they fill their gap and then start travelling south...

 

[Buzzstop]

Your posts are really good, they are almost on what I am going through everyday. Im also trading just like you albeit with a smaller capital. But the emotions are the same.

Keep up the good work, and all the best.

 

[sspms2002]

No Play today..I was busy with office work...

But yesterday i had planned to look into ADANIENT and MUTHOOTFIN...

Sunpharma was also in my mind..as it had given super moves recently..

As iam seeing Adanient broke is at its high..I had thought of taking a delivery of 100 shares at end...but restraint from it after my ITC debacle...
May be i will keep a close watch on Tuesday..