Tulip IT Hitting Hard

karthiksv84 · #1 24th December 2007, 11:09 PM

Hi,
I have never purchased a future on a stock before, but I got an aggressive buying tip. So I purchased Tulip IT Futures at Rs. 985 with a target of 1080
I bought it on 10 dec07. Since then, it has been trading only at 930 - 950 levels. I thought it was because the IT factor keeping it subdued.
On 20 dec, it raised again, so I wanted to sell the dec future and buy the jan future. I purchaced jan fut at 970. But as soon as I gave a sell order for the existing dec fut, It tumbled down and since then trading at 930 - 940 levels

Now Tech stocks are rising, Market is also rising, but this Tulip is on stagnant waters

Now I hold both the jan fut @ 970 and Dec fut @ 985 and both are trading now at 930 - 940 levels.
Can anyone please advise me how to come out of this fix....
Can anyone also tell me if it is worthwile holding the jan fut..

Thanks in advance

uasish · #2 25th December 2007, 12:43 AM

As you wanted to know in the chat room hence was looking at the charts,but my friend the liquidity is worst , still as you are already in , hence regarding Dec, if it can close above 948.90 there is a chance,plz be clear predicting future is difficult hence decision is your.

karthiksv84 · #3 25th December 2007, 01:31 AM

Quote:

Originally Posted by uasish

As you wanted to know in the chat room hence was looking at the charts,but my friend the liquidity is worst , still as you are already in , hence regarding Dec, if it can close above 948.90 there is a chance,plz be clear predicting future is difficult hence decision is your.

Thank you. Lets see how the rest of the days till expiry turns out to be...