Nifty Futures Trading

[gkpc]

Re: Time to Stick my Neck Out ,Nifty 7300

Total trades today :
4 lots Short @ 5122.80 Bot 3 @ 5114.95 = + 1177.50
Bot 1 @ 5102.20 = + 1030.00
4 lots long @ 5117.20 Sold 4 @ 5116.80 = (-) 80.00
4 lots short @ 5116.80 Bot 3 @ 5107.15 = + 1447.50
Bot 1 @ 5102.20 = = 730.00
2 lots long @ 5086.20 Sold 2 @ 5082.80 = (-) 340.00
4 lots short @ 5082.80 Bot 2 @ 5072.80 = + 1000.00
Bot 2 @ 5078.20 = + 460.00

Around 5500/- lessbrokerage @ 0.02% shall be 1500/- so net ~ 4000/-

 

[gkpc]

Re: Time to Stick my Neck Out ,Nifty 7300

SL hit, noposition in hand not seeking fresh.

Taking fresh position wud have resulted in some more decent profit as the mkt moved up very smartly!!!
But happy that i could control my greed!!!
This comment is after seeing the prices rise up!!!
Guess , in future may take partial qty. at such juncture.

 

[milind]

Re: Time to Stick my Neck Out ,Nifty 7300

I recently read about Adaptive CCI at http://tuckerreport.com/indicators/ and have been monitoring the indicator now and then. Late today, it showed a divergence on NIFTY spot 1m, that followed with 25 point drop. I wish I had acted on it. I have seen multiple examples of this divergence at earlier times in the chart. Just FYI.

-- Milind

 

[Sunil]

Re: Time to Stick my Neck Out ,Nifty 7300

Total trades today :
4 lots Short @ 5122.80 Bot 3 @ 5114.95 = + 1177.50
Bot 1 @ 5102.20 = + 1030.00
4 lots long @ 5117.20 Sold 4 @ 5116.80 = (-) 80.00
4 lots short @ 5116.80 Bot 3 @ 5107.15 = + 1447.50
Bot 1 @ 5102.20 = = 730.00
2 lots long @ 5086.20 Sold 2 @ 5082.80 = (-) 340.00
4 lots short @ 5082.80 Bot 2 @ 5072.80 = + 1000.00
Bot 2 @ 5078.20 = + 460.00

Around 5500/- lessbrokerage @ 0.02% shall be 1500/- so net ~ 4000/-

Hi Gautam,
I have been observing your "fast scalping" trades since a few days. I hope you take some other costs, besides brokerage, into consideration while calculating net profit.
In the trades, which you have done today, the total brokerage with service tax would amount to nearly 2000/-

Then, there's also STT on which tax rebate provision has been removed from this financial year. STT, which is 0.017% on the average of total buys+total sells, would amount to nearly 780/-. This 780, earlier we could take as sort of an advance tax paid (using the rebate clause), but now this is to be treated as an expense and has to be taken as additional cost besides brokerage.

There are also turnover charges & stamp duty charges (depends on the state) which are nearly 0.0043% on the total turnover. (total buys + total sells). In your today's trade, they would amount to around Rs 400/-

So, on total 5500/- gross profit, you would have to deduct
Rs 2000 - brokerage (incl service tax)
Rs 750 - STT
Rs 400 - other taxes/duties

So, your net profit would be reduced to Rs 2350 and not 4000/-.

Please do consider these costs (which are unavoidable and not negotiable) and verify with your broker's bills.

 

[gkpc]

Re: Time to Stick my Neck Out ,Nifty 7300

Hi Gautam,
I have been observing your "fast scalping" trades since a few days. I hope you take some other costs, besides brokerage, into consideration while calculating net profit.
In the trades, which you have done today, the total brokerage with service tax would amount to nearly 2000/-

Then, there's also STT on which tax rebate provision has been removed from this financial year. STT, which is 0.017% on the average of total buys+total sells, would amount to nearly 780/-. This 780, earlier we could take as sort of an advance tax paid (using the rebate clause), but now this is to be treated as an expense and has to be taken as additional cost besides brokerage.

There are also turnover charges & stamp duty charges (depends on the state) which are nearly 0.0043% on the total turnover. (total buys + total sells). In your today's trade, they would amount to around Rs 400/-

So, on total 5500/- gross profit, you would have to deduct
Rs 2000 - brokerage (incl service tax)
Rs 750 - STT
Rs 400 - other taxes/duties

So, your net profit would be reduced to Rs 2350 and not 4000/-.

Please do consider these costs (which are unavoidable and not negotiable) and verify with your broker's bills.

Sir,
Thanks for pointing it out. In fact my friend charges me just 0.01% brokerage and other statutary charges.
I calculated that to be Rs.120.87 for buying and selling one lot of Nifty Futures at 5100/-
So today I will be paying 1571.31 as charges inclusive of all for buying and selling 13 lots.
I mentioned 0.02% brokerage jst for ease of calculation.

My breakup of charges for Nifty at 5100.00 :

Brokerage : 25.50 + 25.50
STT : Nil + 43.35
NSE charges: 8.16 + 8.16
Stamps : 5.10 + 5.10
Total : 120.87

The amount I have overlooked is the service tax on Brokerage charges, which should be around Rs.6/-

The total would be 127.00 roughly X 13 = 1651

Even if we take 0.02% brokerage the amount shall not be Rs.2000.00 . Amount of brokerage at 0.02% shall come to 1357.30 including service taxes for buying selling 13 lots of nifty at an average rate of 5100.00

STT also shall be around Rs.564.00 and not 750.00 as mentioned!!
(Am i making a mistake)

My contracts I will check and calculate!!

It was so nice of you to have brought this matter to the notice of all here as its a major issue for Intraday trader who scalp for few points.
Regards
Gautam

 

[Sunil]

Re: Time to Stick my Neck Out ,Nifty 7300

Sir,
Thanks for pointing it out. In fact my friend charges me just 0.01% brokerage and other statutary charges.
I calculated that to be Rs.120.87 for buying and selling one lot of Nifty Futures at 5100/-
So today I will be paying 1571.31 as charges inclusive of all for buying and selling 13 lots.
I mentioned 0.02% brokerage jst for ease of calculation.

My breakup of charges for Nifty at 5100.00 :

Brokerage : 25.50 + 25.50
STT : Nil + 43.35
NSE charges: 8.16 + 8.16
Stamps : 5.10 + 5.10
Total : 120.87

The amount I have overlooked is the service tax on Brokerage charges, which should be around Rs.6/-

The total would be 127.00 roughly X 13 = 1651

Even if we take 0.02% brokerage the amount shall not be Rs.2000.00 . Amount of brokerage at 0.02% shall come to 1357.30 including service taxes for buying selling 13 lots of nifty at an average rate of 5100.00

STT also shall be around Rs.564.00 and not 750.00 as mentioned!!
(Am i making a mistake)

My contracts I will check and calculate!!

It was so nice of you to have brought this matter to the notice of all here as its a major issue for Intraday trader who scalp for few points.
Regards
Gautam

Yes Gautam, you have got the break-up of the costs per lot right. In your case, it adds up to around Rs 127/- per traded lot of Nifty.

Only thing, I want to bring to your notice is that today, as per your trading details provided, total 18 lots of Nifty has been traded and not 15. That's why, STT is coming at 780 (43.35 * 18) and total costs is coming at around Rs 2286 (127 * 18).

Anyway, I just wanted to point out these high cost structures here, and also
why the market mood (day-traders' mood and thus trading volume) has been spoilt when the STT treatment rules was changed in the Feb Budget. Nearly 1/3rd of the costs is accounted by STT.
Recently, in China, its government reduced the stamp duty rates and its Shanghai Index went up 10% in one trading session.

I am sure if ever the STT rebate is brought back, our markets will have a dream rally. For the time being, we can only dream of such thing.

Take care and keep up the good work (trading)...

 

[uasish]

Re: Time to Stick my Neck Out ,Nifty 7300

Stop for Short placed @ 5095.05

After many months could not connect traderji website today on mkt. !!! to communicate my exit.

 

[milkyblack]

Re: Time to Stick my Neck Out ,Nifty 7300

Well... I did not trade much yesterday... As my A/c with RK Global was opened... so was getting familiarized with the ODIN ... I could not get 5 min chart in it!!!!

Any idea how to get it? Or import data to MS professional!

Today the market will open gap down as the cues are bad... even though it had a good closing yesterday !

Regards

 

[gkpc]

Re: Time to Stick my Neck Out ,Nifty 7300

Yes Gautam, you have got the break-up of the costs per lot right. In your case, it adds up to around Rs 127/- per traded lot of Nifty.

Only thing, I want to bring to your notice is that today, as per your trading details provided, total 18 lots of Nifty has been traded and not 15. That's why, STT is coming at 780 (43.35 * 18) and total costs is coming at around Rs 2286 (127 * 18).

Anyway, I just wanted to point out these high cost structures here, and also
why the market mood (day-traders' mood and thus trading volume) has been spoilt when the STT treatment rules was changed in the Feb Budget. Nearly 1/3rd of the costs is accounted by STT.
Recently, in China, its government reduced the stamp duty rates and its Shanghai Index went up 10% in one trading session.

I am sure if ever the STT rebate is brought back, our markets will have a dream rally. For the time being, we can only dream of such thing.

Take care and keep up the good work (trading)...

Yes Sir!!!!!! I stand corrected. My actual profit is very near the figure posted by you. It came to around Rs.3200.00+
Regards
-Gautam

 

[gkpc]

Re: Time to Stick my Neck Out ,Nifty 7300

Long above 5076.20