Wednesday, October 21, 2009

Today's trade

Market opened with weak note. Initially thought Market would not go down any more and recover subsequently. Firstly, traded long with SBIN and then looking some profit booking tendency traded with JPASSOCIAT.
  1. SBIN: Entry point ( 2435) was good. Captured some gain before coming out of this trade at 2444 seeing some profit booking tendency. If I could have reversed my trade and taken short position, trade would have been more successful.
  2. JPASSOCIAT: Took position after some time and assessed better market sentiment. Took short position at 267.95 and squared off at 264. It was satisfactory trade. Last three day's gain was worth for profit booking. Weak market sentiment helped the matter.