In November, I traded Oriental Bank. I trade anywhere from 100-1500 shares. I keep a buy/sell order at 5 paisa intervals. Say, if I feel that it's going up, I will keep buy order from 126 to 125 - 100 shares per order - at 5 paisa intervals. I like to square off at 60-80 paisa.
yes,such low priced scrips have benefit of placing order at 5 paisa interval,but if they reversed they move almost 1r quickly.
as you are managing Eq perfectly(no loss in this session) then it'd be better if you trade Eq only as benefit of spread is missing in f&o.