re: Day trading Nifty & Banknifty Futures
Hi guys
I wanted to ask a question on behalf of my uncle who is a HNI earned his fortune in real estae. Now he wanted to day trade nifty, but is insisting on not being a single lot player hence he wants to know if there is enough liquidity in the market to absorb 100 lot in SL types order. What should be the slippages he should expect (I added this question from my side)
Liquidity is not a problem for Nifty Futures. More than 2.5 to 5 Lakh contracts are traded every day.
Usually maximum slippage for 100 lot SLM order is 2 - 4 pt except some few volatile times like when major tech support or res breaks, market is trading in a narrow range band, some fundamental news like 'chota' Rajan's rate hike last time :rofl: etc etc.
You got 100+ pt on friday :thumb:. But your are thinking of trading 100 lot now
, that is '2 Fast 2 Furious'. Go slow little.
If you really want to trade with more contract (100 lots
) intraday with less capital, go for wisdom capital. They are giving 5 times margin for MIS in Rs 20 / order and 10 times margin for R2222/- PM unlimited scheme. But the risk is yours.
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Today, bullish market bought back again from lower support zone as expected b4. Good one way move, easy profit day. :lol:
According to pattern analysis, 6010-20 in NF is going to be 1st strong resistance for bull . Bull have to over come that level soon, or bear is waiting for OCT end session patiently..
Any way when tech up-fundamental down or bull and bear equally strong etc etc, that's mean more up and down, faster swing, no boring day. More challenge and more profit...
Happy Trading,
Cheers.