‘Prayers to computers & laptops’

Gunjan J Chokshi is an active swing trader from Ahmedabad. He has been trading and investing in the equity markets for more than a decade. His bond with the stock markets goes back to his childhood, since his father was an avid stock market investor.

He recalls how Diwali was celebrated 20 years ago — the Diwali pooja was performed at home, with the trade accounting books and the ledgers placed near the deity. It was then followed by a walk to the brokerage firm along with his father where another pooja was performed. Then came the Muhurat trading.

“Everything has changed now,” says Gunjan. “The books and ledgers are now replaced by computers and laptops — the major source of our income — and we offer pooja and prayers to them.” According to him, they mainly buy for the long term in the Muhurat trading session. They also book profits on old investments. “In trading, we prefer only to buy (go long) as this is the first trade we take in a new year,” says Gunjan.

He prefers to trade in the Nifty and Bank Nifty derivatives in that session. The one-hour trading window during Muhurat session doesn’t worry him as he finds enough liquidity to trade. He considers Bank Nifty to be more liquid than the Nifty.

Gunjan considers the 2015 Diwali among his best. He had bought a Nifty call option in that session. He was able to book a very good profit from this trade within just 15 days. As far as long-term positions go, the 2014 Diwali was the best for him as he could book a large profit from the investments made in the previous year. “Market was booming at that time on the back of Modi wave and we made good profits from the investments made in the previous year,” says Gunjan.

With the auspicious Muhurat trading day just a week away, Gunjun is all set to take short-term trading position in Nifty and invest in IDFC Bank for the long term.

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