A dedicated space for discussing BULLDEX. Index details, intraday levels, trading ideas, support & resistance, F&O contracts, Open interest, etc. After all, it is India's first Bullion Index. Exchanging ideas, info, opinions only. Please make sure that you don't encourage any tips or unsolicited advice here. Let's keep it clean.
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BULLDEX Trading Discussions
BULLDEX Trading Discussions
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Announcement: Brokerage will be waived off for BULLDEX futures from 18th September to 31st December 2020 as a promotional offer for commodity traders to increase participation in the new index contracts.
Its really good initiative on brokerage part. Also please allow BO for this.
The volumes are quite low at the moment. Hence, we have disabled CO/BO for the time being. You stand to lose more than you can gain from these order types at this point IMO.
Well again we are struck at the point you raised to MCX team. Margins! With BO it would have been little less. But now intraday order will take nearly 30k. So what's the point in trading it when you can trade 2 lots GoldM in it?
Valid point. The bottom-line is that the physical settlement of derivatives is a pain point for everyone and cash settled commodity index futures is their first initiative to circumvent it.
Like Rishi Nathany said in the webinar, if you are small retail trader then you can trade smaller contracts in gold and silver.
We can offer BO if the volumes are higher. At these levels, you can face big slippages.
Thanks for waiving off brokerage @Tejas Khoday
Happy Trading :-)
Bulllion index is a good opportunity for retail investors to invest in bullion sector and @FYERS brokerage waved off appricated.. @Tejas Khoday sir👍🏽
When will FYERS introduce CO/BO in MCXBULLDEX?
When volumes are 4 to 5x higher perhaps.
How much leverage will be given for CO/BO?
No BO/CO at the moment. Not much liquidity at this point.
Yesterday (22Sep2020) I made Rs 9000 profit from one lot. Felt very happy 25% ROI. Today (23Sep2020) I lost 4300 in morning session. I stopped trading and came back in the evening session.
In the evening September contract is not available to trade (contract expired at 5PM). I placed order in October contract, but it was rejected saying " TRANSACTIONS ARE BLOCKED FOR THIS SCRIP (GLOBAL LEVEL)". But I could see volume being traded. Are transactions blocked only in FYERS ?
Though I made profit, I would prefer to stay away from this instrument. Really disappointing experience. And also brokerage is charged. No waive off yet.
Hi Srinivas Chitneeedi,
We are extremely sorry for the inconvenience caused.
No, we have not blocked the transaction in Fyers. As it was the first expiry for the product there were various risks which have to be managed from our end, due to which the next month contract was not enabled immediately.
Now you can trade in current month expiry with us and as promised the Brokerage has been reverted back to your trading account.
We will assure you that there won't be any such issues in the future and your Brokerage generated will be reverted on daily basis without fail.
We request you to call to our support number 080-4625 1111/080- 6625111 which will be available from 9:00 am to 11:30 pm to resolve such queries immediately.
@Srinivas Chitneeedi , Brokerage is not being levied for BULLDEX. You can place a few trades and check your contract notes EOD. The much-needed change is done and the hassles of refunding are done away with.
Hope this helps.
Guys, check out the volume trend in Bulldex since launch. Although Avg. Daily Turnover is at around 250 Cr. Retail is only at around 60 Cr. or so. Any thoughts?
Quite an invaluable thread. With gold and silver being one of the most traded and volatile commodities around the world, we should see some good traction in the index going forward.
Historical performance of the iCOMDEX Bullion index since inception. A return of 55% in less than 5yrs!
Keep a watch on BULLDEX. With the Dollar Index (DXY) breaking down, precious metals have started showing signs of strength. MCX Gold is just trying to break out of a triangle pattern. For BULLDEX (spot), resistance lies at 15780. If the index sustains above that, we could see upside gaining traction in the next few days. Short-term support lies at 15440-15200.
MCX Bullion index has today risen to a near 2-month high, boosted by strong rally among precious metals since last week amid optimism surrounding the US Presidential Election result.