Banknifty daytrading- what should be optimum profit in a month/year?
We have 22 trading days in a month.Midday breakout3 days 0.3-1% profit 100-300pt9days 0,1-0.2% profit 30-60pt10 days -exit (loss of brokerage+tax)
Banknifty is 31000.So 1% is 310points. 0.1% is 31points.
Total expected -700-900pt 3 days300-500pt 9days- 100pt 10days=1100 points in 22daysMeans 50 per day.50* lot size 20=1000 per day
We have 3 weekly breakout from 22 trading days in a month.
3 days 0.5-2% profit 150-600ptThese 3 big moves may be average or very huge sometimes like given below.Total expected -150pt+250pt +600pt =1000pt3 breakout in a month.1000* lot size 20=20000 in a month
Capital requirements30-70k for 2 MIS orders. FuturesExpected 20k+20k =40k
Two must be conditions to assure this profit-Order placing should be very regular.trader should not miss this for any single morning or afternoon.Try to exit cost to cost 10 out of 22days on false breakout.It will turn into mini loss whatever you will try.No one can have INR 1000 profit regularly.
So finally,We can have 40k per month means 40k*12month = 4.8lac annually.1000% profit on 48000 capital.You can search broker to allow you to trade in banknifty mis intraday with 20k margin per lot only.
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