Larsen and Toubro (L&T), an engineering & construction company, has reported a net profit of Rs 991 crore in the third quarter of FY12, a growth of 18% as compared to Rs 840 crore in a year ago quarter.
Other income jumped 78.9% to Rs 449 crore from Rs 251 crore during the same period.
As per NR7 (Narow Range 7) setup, today was NR7 day which means range of NF low and high was lowest in 7 days. The next day trading can be done by selling NF below 5231 with a SL of 5275 or long NF above 5275 with 5231 as SL. The trade can be reversed in case a SL is hit. The target depends upons your own choice but mostly after NR7 setup day a big directional move can be seen in 1 or 2 days.
I will be doing a bit by 1 lot of Mini NF. Please don't follow and use this information for learning purpose only.
Sorry I am little late as was away from screen. I am posting the levels below based on high and low till 10.15 but have not traded anything yet. I will post my trades as and when I will execute them according to levels below.
At 10.00 - 10.05 MINI NF is between H3 (4957.5 ) and H4 (4985.5) so sell below 4957.5 and but above 4985.5 will be my first trade today. Let's wait and see in which direction it moves and which trade triggers first?
Trade 1:Sold 2 lots below 5024 and book at 5003 and 4983 (Points +20,+40)
Trade 2:Buy 2 lots abvoe 4980 but it never crossed 5000 so SL triggered at 4958 (Points -44)
Trade 3: Sold 2 lots below 4958 and book at 4937 and 4931 (Points +20,+26)
Total points = 106-44=62
With Mini NF lot size of 20 I earned a profit on paper = 62*20=1240/-
Let's hope I amke same kind of profit from Monday 12.10.09 when I will start real job but will keep it posted here.
I was doing paper trading using camarilla pivots on Mini Nifty from last 2 -3 weeks and I found it is a good way to make some points in Mini Nifty. I will be starting real trading with 2 lots of Mini Nifty from Monday and will keep posting my trading results every day after close of market.
The Mini NF values I will use for Monday trading are
H4 : 4985.5 - Will buy above a cross of this level with SL as H3
H3 : 4957.5 - Will sell below this level with SL as H4
L3: 4902 - Will buy above a cross of this level with SL as L4
L4:4874.5 - Will sell below this level with SL as L3
In all cases I will book 1 lot at 20-25 points trailing other to another 20-25 points.
I wil lkeep on posting other details if anyone is interested.
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