Which IncomeTax form Applicable

Hi friends

A person has X amount of money in bank and is only trading in Derivatives Futures contract practically on a daily basis or holding it for few days.
And this is the only source of income generation.

Now for a person like this, which Income Tax form would be applicabel to be filled. I believe now there are only four forms. i.e. ITR-1, ITR-2, ITR-3 and ITR-4.

Which ITR form would be applicable to this person. Knowledgable firends, please reply at earliest.

Thanks
Tarmac

i think itr4 as F&O trading is consider as business income.
and i also read from various threads of our foroum that if turnover is more than 40 laks u need tax audit(don't know much more)

I dont have an answer,but would like to add a question of my own.Which form would be applicable if some one has a salary income as well as trades in secondary market and future and options?