Day Five Breakdown - Targets Achieved!

Well my targets for Monday's trade were achieved on Tuesday like I had mentioned in the earlier post, and what a way to achieve them! JSW Steel and BATAIndia broke past the targets and just kept ploughing through. Have a look at the charts for more clarity.

These are the stocks that I traded with on Monday and the results are astounding:

1. Sell JSW Steel, Entry: 727-730. Target: 710. Stop Loss: 737.

JSW Steel

My first analysis of JSW ended up triggering the Stop Loss but this one more than made up for the loss. JSW
Steel hit past the target and went another 25 points downwards. The market did most of the work on this though. Day low - 684!
Each lot of JSW futures contract fetched me Rs. 10000!


2. Buy BHEL, Entry: 187. Target: 195. Stop Loss: 185.

 SL triggered at 185. Nothing more to add.
Each lot of JSW futures contract cost me Rs. 2000!

3. Buy Canara Bank, Entry: 397-400. Target: 420. Stop Loss: 389.

CanBank

My trade in Canara Bank was as unfortunate as my trade in Reliance Infra on Day Three. CanBank hit a day low of 389 triggering my stop loss and then went on to hit a day high of 402.5. I should really learn to keep a small buffer when I place a stop loss otherwise things like this end up as a loss in my books. Maybe I should have just modified the SL. Anyway, Stop Loss triggered, although I expected it to happen.
Each lot of JSW futures contract cost me Rs. 4000!

4. Sell BATA, Entry: 885-890. Target: 860. Stop Loss: 899.

BATAINDIA

BATA's movement was a thing of beauty. I was fortunate enough to give in to greed and make a killing out of it this time. That is a very very rare event. I ended up not covering my profits at 860 and let the market do it's thing. BATAIndia ended up hitting a day low of 797! I was lucky to square off at 800; there aren't too many occasions when such a trade occurs.
Each lot of Bata futures contract fetched me Rs. 21250! That's a whopping amount!

The total profits on Day Five, considering I bought only one lot of each Futures contract, results to a sum of Rs. 25250! It's the most I've ever made in a single day after starting this blog. Even if I had stuck to a target of 860 on BATA I would've ended up with a profit of Rs. 10250. 

Hope to have many more great days like this.

Cheers!