General Trading Chat

[timepass]

Iam a senior. Only govt scheme i use every year is SCSS Rs 1.5 lakhs/yearfor 80c deduco. ( 5 years fixed but can break with penalty after 1-2 years i think. Ceiling is 15 lakhs per pan.) Any body mention mutual fund,money market fund,short term gilts ,gold funds .ipo annuity,pf scheme,debt funds etc i run from them as fast i can, all these TN govt agencies may be ok but not for me.shriram group/ Bajaj are all risky though stock market darlings! But apart from fd in many many banks ( 5.6 to 7.5% ), i keep 30% of my cash in SMB banks in high interest sb accouns to invest in niftybee/ bankbee ETF's at any opportunitistic time. ( All sb balances are just a RTGS away at 3pm to Zerodha if market tanks say 3-3.5% )
Equitas sb ( above 5 lakhs) pays me 7% in sb interest( quarterly) AU SMB pays me 5 % sb interest ( above 1 lakh but monthly payment of interest!! ) .Bandan sb 5% above 1 lakh, RBL sb interest 5.5% above 1 lakh .DCB Bank 5% above 1 lakhs. All these banks are risky ( but under RBI / nirmala seetharaman guarantee ) iam ok with that. Ask me how sat thro 1 month suspense when LVB went kaput.( With 7 laks fd with LVB.Finally DCb came & claimed the bride for free & saved my ass

All these, and your interest income must be in high IT bracket, so what's net take home interest % ? None of these FDs are tax free, right ?

 

[brokenbull]

Even SCSS interest paid quarterly is taxable. Iam investing in FD ( loosing 3-5% against inflation) .iam in fd because they are safe & liquid.( I can take 80% loan against fd & trade index ETF if they crash ) Also when I have 2-3000 days to live,I am not expecting " return on investment" but "return of investment". Just simple liquidity and . You can say as a senior citizen after income up to 6.5 lakhs threshold no tax , return will be atleast less by 1.25% on fd interest earned.
My short term/medium/ long-term horizon is btst/1 week/1 month in equity.iam not investing.i just trading to amuseyself & see where i can earn more than fd interest.tough when you have a very short horizon in life

 

[Romeo1998]

Sir your income is non taxable till 7 lakhs, 1.5 lakhs in tax saver fd (80C) and 50K bcoz of exemption on interests earned from fds (80TTB) , good luck

 

[brokenbull]

Sir your income is non taxable till 7 lakhs, 1.5 lakhs in tax saver fd (80C) and 50K bcoz of exemption on interests earned from fds (80TTB) , good luck

You are right. Iam Not paying tax up to 7 lakhs fd interest.
I am claiming 80c (1.5 lakhs senior citizen saving scheme 5 year fd every tax year+ 80ttb : 50k deduction in( fd+ saving interest)
not claiming 80D : 50k . (As I Have No medical insurance policy ,no life insurance policy)
On top of this interest income, dividends+ short term gain or loss /
+Intraday loss / gain is added.to make up the total taxable income.
Iam in market only since April 2020. All these days only Itr-1. FY 20-21 filed itr-3 with trading as business.

 

[hardik0007]

LT ~ 15mints
Pivot range narrow, getting ready for one side move

View attachment 47749

Confluence of ERL & DERL in range 1638.60-1646.45..

 

[timepass]

Engulfing bear on banknifty

 

[brokenbull]

Engulfing bear on banknifty

View attachment 47768

Banknifty treading water till RBI/ inflation reports by Wednesday.

 

[Raj232]

 

[hardik0007]

ITC ~ 30mints

DERL of VPH & VRL form channel

 

[timepass]

Banknifty treading water till RBI/ inflation reports by Wednesday.

Thanks. But complicated chart. Can you please explain ?