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Moneycontrol.com >> Message Board >> View Messages >> Market Outlook - Short Term
   You are here :     Moneycontrol     MMB      Market View      Market Outlook - Short Term
Buy at Lower levels! (30)   08-Aug-08 01:54Tracked by (6)  
Posted by:   rajwin619 on ( 08-Aug-08 01:54 )
Dear Joe,

If I had taken leave from my regular profession (I am a doctor in the service of the government of India) during the past two months and had spent my days just trading the Nifty both ways, I am sure I could have made a million bucks at least, with some luck - our markets are so choppy and illogical. Even yesterday, I traded Nifty options both ways a few times during lunchtime and made a few hundred bucks. Just a difference of five rupees is enough to make a profit in a Nifty option trade and there have been many days during the past few months on which there were several oppotunities to trade Nifty options with an average of twenty rupees difference everytime. I, unfortunately, am too occupied in my regular profession and can only make an occasional peep at the market and maybe make a quick purchase and place a sell order. I still deal mostly with stocks but I have now become a short-term trader, buying and selling with as low as 5% margins at times. Just to give an example, a couple of weeks back, the RBI hiked interest rates and all banking and other rate-sensitive stocks (like realty, automobile) fell by 5-10%. I took a risk and sold many of my carefully hoarded stocks, buying a dozen or so different bank and realty stocks. To my surprise, the very next day all of those stocks went up (were made to go up, rather) and I sold them all for a nett profit of about 5% on a single day. Some of them, like ICICI Bank, HDFC, HDFC Bank etc. have subsequently gone up much higher but I have no regrets.

The point I wish to make is the title of this post - I buy stocks at lower levels and sell them at higher levels and do not wait for the bottom or the top. As long as I make a nett profit that is more than 25% on an annualised basis (it\\`s generally more) I am satisfied. To that end, I\\`ll be happy if the market and individual stocks keep going up and down regularly (at least once a month) irrespective of the levels of the indices. And days on which we can expect the index to go up or down drastically are decidedly more profitable.
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