R we going to see a turnaround for the upside now ????any takers ????
@Master, Is the on-going correction is corrective to v(i) from 7422 to 7809 i.e. v(ii)....Or is the preferred count is still not identifiable due to multiple options?
Sir would you b kind enuf to explain a hammer and inverted hammer converging at the same point on Reliance Future @ 995 please. is it any sort of a pattern ???
@ Unknown,Its a pause pattern after a fall / rise. Convert the chart to line chart - it looks better
Sir - any targets for downside on L&T?
Suraj has left a new comment on the post "Nifty Pre-Market View.": Good Morning Ilango Sir and Friends,Is it true that according to new ruling, if we turnover in F&O is more than 1 crore, then F&O trades would be considere as business and account books have to be maintained. These books would have to be audited also. One CA told me so. If a person with a margin money of rs 40,000 buys and sell 25 nifty in a year, his turnover would cross 1 crore. Anyone having information about the new ruling, please comment. @ Suraj, Click the following links for clarification on Ur doubts :http://tradersadda-blog.blogspot.in/2014/07/income-tax-filing-for-traders.htmlhttp://zerodha.com/z-connect/traders-zone/taxation-for-traders/taxation-for-traders-introduction#comment-10509
I think that Daily MACD triggered
Nifty about to hit a century on downside.
Intraday part booking zone between 7600 to 7610. Day S3 and Week S2.
Golden Ratio @ 7582
Thank you very much Marina S Rao Sir for your concern. As I am able to understand from the links you referred that all the profits and losses is to be added in the net loss/profit. If that is more than 1 crore, then return is to be filed. That way my turnover is far far less than 1 crore but profit is also less than 8%. Do I need to get it audited and maintain books.With RegardsArvind Katyal
Entire world has turned RED US JOB DATA ???
Golden Trade of the day: (High made -7717)Ilango said...7707 7725 ... is 38%-50% retrace of the last fall from …… 7799 to 765080% is - 7769 If weakness is to return, it should be around 7707 7725 Strength gets confirmed above 7725 OR 7769 August 1, 2014 at 11:58
3.00PM TT & Chart Updated.
@ Suraj ,As I understood from above links, if 1 is filing ITR 4S ( 1 has to pay tax on presumptive income i.e. min. of 8% of Turnover) no Audit is required.If 1 is filing ITR 4, Audit is required. (Must where profit is less than 8% of Turnover& Turnover < 1 Cr. or Turnover is more than 1 Crore irrespective of Profit / Loss or 1 has incurred losses in Trading).
Appreciate your reply Sir. Many Thanks.With RegardArvind Katyal
@ sir, short should be part book or carry full as close will be below wema
I did in cash bot for 23L and sold for 23.2L profit of 20K intraday, my ca said either do autit, or show profit of 23.2*8%, would like comments and views from others also.Regards,
dear raghvendra as per now what we can understand from banknifty level though it has broken 38.2% level in hrly chart
So the I have completely stopped intraday trades since the last 20 days to avoid all this lafda, would like views of others here on audit in CASH SEGMENT ONLY.Thanks
The above case is applicable for derivative transactions . For cash sell or purchase thrgh recognized stock exchange the same is not applicable.
Delivery based transactions are not covered for 8% calculations.
@ Nilesh,The trailing SL is 7670-75. Part booking, repeating, part booking is alright during a corrective fall.
Vishnu when the data was fed into winamp it says AUDIT NEEDED AS PROFIT WAS <8% this I think is a new ruling since aug '13.
@ Dharmu ji,Did not understand your question.
dear raghvendra as per fibo retrace in hrly chart banknifty broke 38.2% for its last rise how is your take with this senario
FII said Bye or Buy India
Sudhinji for Derivative based transaction it is ok but for delivery based transaction capital gain will work.
In Both option FII Sell
Vishnu, the above data was GIVEN FOR INTRADAY HENCE QUESTION OF AUDIT, u r right when u say for del it is ok HENCE STOPPED INTRADAY TRADES IN CASH ALSO.
Yaa , then you are right , since delivery is not there for intra day.
We should have another blog trdeinbankniftyonly.blogspot.in maintained by Sir.Illangovan.Reason In a side way market nifty always trapped in traffic jam.