Today was the Union Budget day 2014 India. In the budget day market always remain very volatile. So there should be specific plans to trade the budget day. This year this is the first budget of our Prime Minister Mr. Narendra Modi and also the first budget day of our Finance Minister Mr. Arun Jaitley. So all eyes were on the budget day.
Here in this post, we will show how we traded this Budget Day 2014 India. Yes, we changed our strategies. Of course, the budget day is a special day, so we should not trade this day like the other days.
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We started the day at 10 AM with our favorite Zoom Scan. Hence, we had done a complete zoom scan of our scrips.
Next, we concentrated on mainly PassedOK scrips and according to volatility and liquidity and have chosen 3 scrips out of the list. My favorite is DENABANK in the cash market and INFY future and MCDOWELL-N future in the futures market. Our strategy was to watch these scrips till 12:30 and after the speech is almost over and market completes its whipsaws trade a more safe and tradable signal. As in the budget day, the market is likely to swing both sides we decided to trade in the stop and reverse mode. Our last strategy was, if our first trade becomes the winner, we will avoid all other signals in that scrip for that day.
The Implementation of trading on budget day 2014 India
As per the plan, we waited till 12:30. We got our first signal in DENABANK at 12:40. A buy signal at 73.90 made a high of 79.10, all targets are done.
We got the second signal in MCDOWELL-N futures. A buy signal at 2307, zoomed to 2365.05, 2 targets achieved. And we got the last signal in INFY futures. A short signal at 13:45 at 3343, crashed to 3317.65 when we foreclosed the trade as it was already 15:10.
Have you made similar profits in Budget Day 2014 India? Do you want to know more about Zoom Scan? Join the team of successful Zoom Scanners here. Yes, even after exploring your market with Zoom Scan and finding the suitable scrip to trade with Zoom Scan, you can trade it with your own trend following trading system.
This weekend we are planning to organize a special webinar on Trend Blaster Zoom Scan on Saturday 11 AM. It’s FREE. To book your seats get in touch with our helpdesk. For our contact information do check here.
Indrajit is a professional blogger and trading system developer. Amibroker expert, WordPress expert, SEO expert and stock market analyst.Trading since 2002, he has started the journey of StockManiacs.net on 2008. He follows Indian and world stock markets closely.