9th April 09,Highest Volatility Day,Markets Switched 24 Times From Red To Green Side
Dear Friends
9th April 2009 I entered into share markets at 9:55am morning........
But I found it is one of the most volatile days Indian market has seen...........
I counted from NSE Graph at 3:35 PM , markets switched 24 times(approx) from red to green teritory eventually closing little below previous day close ......
I observed that Tatamotors was the only share that remained intact in 229-231 range for 70 percent of duration of trading day .....
I took intraday position in TATAMOTORS at 230 rupeese markets were seemed to shoot up with very positive market depth ....
But I was wrong in my judgement markets revert from +30 to -30 points Nifty in only 30 minutes with the stable and strength showing TataMOtors share to fall to Rs 219.20 (from 230 rupeese) and the whole day strength of TATAMOTORS disappeared in 30 minutes.........
At 2:57 pm Tata motors were at 228 rupeese so I gave delivery request of TATAMOTORS intraday holding , instead of selling at 2 rupeese loss .......
And final surprise of the day came when in last two minutes of intraday trading time (intraday is allowed till 3:00 pmin Religare) markets fall from +40 points to -15 points and Religare software refused to convert intraday share to delivery due to technical problem ..........
Religare server ignored my delivery conversion request and sold my Tatamotors share @ 226 rupeese giving me a loss of 4 rupeese per share ........
After 3:00 PM till 5:30 PM I kept mailing and fighting with Religare Securities for their Race Pro software ignoring my delivery conversion request .......
Religare securities remained quiet saying that we will see if there is any such problem .........
SO always try to give delivery request before 2:45 pm to handle any crisis as I had faced .........
Your comments are highly appreciated ..........
Thanks
Ganesh
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