Friday, May 3, 2013

Intraday trading : 3 May 2013

Today RBI credit policy was going to announce so it was risky to do intraday trade. I was thinking of shorting 20 shares of Axis bank in morning when it was around 1504, but refrain from it due to risk. It would have been good if I had done it as Axis bank went down to 1470.
I shorted Reliance infra and Reliance Capital after credit policy was declared. I shorted both the stocks

Transaction Details

As market was volatile, I squared off both positions with small profit. Both stocks fall in afternoon and my profit would have been more than 500 if i had waited.
But you can not predict in volatile market and on another day if i waited, i would have been in loss also.
Good day again which ended in profit again.
I will update final details after brokerage and taxes once i get mail from sharekhan.
Update: Profit after brokarage : Rs.107.60

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