Nifty Futures Trading

[Sats]

Re: Time to Stick my Neck Out ,Nifty 7300

Yeah ashish da,

I also paying around Rs.230/lot... (Rs.75 on either side of trading (75*2) and Rs.80 on taxes)... I am using geojit... I

I also enquired in ANANDRATHI and their brokerage are as follows...

a. 03% on either side of trading=.03+.03=.06%
b. Taxes will come around another =.03%
So total cost of trading for 1 lot of nifty = .06+.03=.09%

Value of NF=50*4200=210000; and the cost of trading/one lot of NFis .09% of 210,000 which is ~190 Rs... So this cost varies for every FUTSTK.. For eg, Cost of trading for RANBAXY is .09%*(800-lot size*500-price) = .09%*400000 = 360 RS...

So can you please suggest me some brokerage house/plan where the cost of trading is less for Fno..

Thanks,
Sats.

 

[Sats]

Re: Time to Stick my Neck Out ,Nifty 7300

I read from the forum that, the service of RK Global is not upto the mark... Milkyback and ARM had some bitter experiences with RK (The thread name-R K Global Issues...)...

I do not know whether MB is still using RK or not?... or the problem is solved?...

I am really annoyed by the brokerage of Geojit (Rs.230/lot which is about 5 pts in NF)... Can anybody suggests some gud brokerage plan?

Thanks,
Sats.

 

[Sunil]

Re: Time to Stick my Neck Out ,Nifty 7300

I use Religare where my cost structure is as follows:

Brokerage = 0.02%
Service tax on Brokerage = 12.36%
Total Brokerage per side (A)= 0.0225%

Other duties, etc(B) = 0.0043%

TOTAL COST (EXCL STT) PER SIDE = (A+B) = 0.0268%
TOTAL COST (ESCL STT) FOR TWO SIDES = 0.0536%
STT is actually 0.017% on the average of Buy Value & Sell Value... (in short in one side)

SO TOTAL COSTS FOR BOTH SIDES = 0.0536% + 0.017% = ~ 0.071%

So, in one lot of nifty with price 4500, total cost = Rs. 160/-
If the price is 5000, then total cost = Rs 177.50

So, my cost is in proportion to the Nifty value at that time. T

Taking an average of Rs 170/- for 50 Nifty, 1 Nifty's cost = 3.4 points... in other words, my trade has to move atleast 4 points to cover costs.... beyond that is my actual net profit.....

 

[Sunil]

Re: Time to Stick my Neck Out ,Nifty 7300

so, asish, if you pay just half of Rs 170/-, ie only Rs 85/- as total costs for BOTH sides, then nifty needs to move just 2 points in your favour to cover your costs, rest is your net profit....

WOW....
Religare has offered 0.015%.... even that will result in total cost of nearly Rs 145/- still less than Rs 85/- of yours...

PLEASE LET US KNOW ABOUT YOUR BROKER & YOUR BROKERAGE SCHEME...
PLEASE, PLEASE...............................................................................

 

[new2sm]

Re: Time to Stick my Neck Out ,Nifty 7300

I too follow the 3 pt rule but I think for 1 lot I shud assume 4 or on the safer side 5 pt breakeven from now on...hmmm so much for earning.

 

[new2sm]

Re: Time to Stick my Neck Out ,Nifty 7300

sunil, ashish da is a volume player and I believe he play in crores(now u know where that push and pull comes from? an why mkt behaves opposite to what we write here immediately as soon as we write ;-) ) so he get 75/-.

 

[Sunil]

Re: Time to Stick my Neck Out ,Nifty 7300

but still, no broker can offer a fixed amount as total cost....
because STT & other duties (which broker takes from us on behalf of state & central govts) is a % on your turnover....

even that RK Global offers brokerage+service tax as a fixed amount.... rest is extra depending on the transaction value (which changes with the nifty value)...

Please clarify Asish...Rs 85 / 95 you mentioned covers only Brokerage, or it covers ALL COSTS of BOTH the sides....???

waiting for your reply... and please mention your broker's name & is there any turnover requirement...???

 

[Sats]

Re: Time to Stick my Neck Out ,Nifty 7300

Hi,

I also searched numerable times on this forum to get lowest brokerage plan... but all ended up in nothing except R K Global where also we have many issues faced by members like Milkyback and ARM.... I am paying around 230 Rs (~5 NF pts) which is really making a killing in profits...

So I requests senior members of the forum like ashish da, RK Sir, Oilman and etc.,...and others to tell abt "GETTING BEST BROKERAGE PLAN"....

This is my humble request...

Thanks,
Sats.

 

[jace48]

Re: Time to Stick my Neck Out ,Nifty 7300

My broker gives me 3+3 point for carry forward and 3 points for intraday. Rest charges as actual

 

[nagendra_gb]

Re: Time to Stick my Neck Out ,Nifty 7300

CRR and Repo hike , short covering expected tomorrow ?