This day trader lost Rs 24 lakh in 5 minutes
until the principles of trading in futures and choices completely, that you must end up working big losses, as Chirag Gupta, a 27-yr-previous day trader just lately did. imagine investing about Rs 11,250 in the inventory market and getting a return of Rs 6.08 lakh in a span of five minutes. however when the dealer sends you the contract word, the securities transaction tax (STT) for the exchange is over Rs 24 lakh -- almost four times the profit -- and it is not a printing mistake. It took place with 27-yr-old management pupil Chirag Gupta. When about five minutes had been left for the markets to close, Gupta noticed that he might purchase Nifty call options at 5 paise per unit and make a revenue of around Rs 2.75 a unit. He bought options that Nifty will close above 8,600 and it closed at eight,602.75. Gupta bought all of the Nifty quite a bit (three,000) he could within the short span of time. One Nifty lot has 75 units. Later, he realised that his dealer ha...