How ONGC Short Trades Have Paid Off ??

ONGC has been in a downtrend for a while now, giving excellent opportunity to trade short.

Traders could have been rewarded handsomely had they traded short as  follows:

Trade 1 :  Short @ 450 cover @ 400.
                Profit : Rs.50 x 500 (lot size) = Rs. 25,000 per lot

Trade 2 : Short @ 405, cover @ 350
              Profit  : Rs. 55x 500=  Rs. 27,500 per lot

Trade 3 : Short @ 350, cover @   ?? (position open) Current Price : 309
               Profit  : Rs. 41 x 500 = Rs. 20,500 per lot (position still open)
Position close @305. Profit : Rs.45x500 = Rs. 22,500 per lot.