OPTION STRATEGIES

STRATEGY 1: LONG CALL
Strategy:  
Buy Call Option

When to Use: Investor is very bullish on the stock / index.
Risk: Limited to the Premium. (Maximum loss if market expires at or below the option strike price).
Reward: Unlimited
Breakeven: Strike Price + Premium

STRATEGY 2 : SHORT CALL
Strategy :  
Sell Call Option

When to Use: Investor is very aggressive and he is very bearish about the stock / index.
Risk: Unlimited
Reward: Limited to the amount of premium
Break-even Point: Strike Price + Premium

STRATEGY 3 : SYNTHETIC LONG CALL
Strategy :
Buy Stock + Buy Put Option

When to Use: When ownership is desired of stock yet investor is concerned about near-term downside risk. The outlook is conservatively bullish.
Risk: Losses limited to Stock price + Put Premium – Put Strike price
Reward: Profit potential is unlimited.
Break-even Point: Put Strike Price + Put Premium + Stock Price – Put Strike Price
 ANALYSIS: This is a low risk strategy. This is a strategy which limits the loss in case of fall in market but the potential profit remains unlimited when the stock price rises. A good strategy when you buy a stock for medium or long term, with the aim of protecting any downside risk. The pay-off resembles a Call Option buy and is therefore called as Synthetic Long Call.

STRATEGY 4 : LONG PUT
Strategy : 
Buy Put Option

 When to Use: Investor is bearish about the stock /index.
Risk: Limited to the amount of Premium paid. (Maximum loss if stock / index expires at or above the option strike price).
Reward: Unlimited
Break-even Point: Stock Price – Premium
ANALYSIS: A bearish investor can profit from declining stock price by buying Puts. He limits his risk to the amount of premium paid but his profit potential remains unlimited. This is one of the widely used strategy when an investor is bearish.

STRATEGY 5 : SHORT PUT
Strategy :
Sell Put Option

 When to Use: Investor is very Bullish on the stock / index. The main idea is to make a short term income.
Risk: Put Strike Price – Put Premium.
Reward: Limited to the amount of Premium received.
Breakeven: Put Strike Price – Premium
 ANALYSIS: Selling Puts can lead to regular income in a rising or range bound markets. But it should be done carefully since the potential losses can be significant in case the price of the stock / index falls. This strategy can be considered as an income generating strategy.

STRATEGY 6 : COVERED CALL
Strategy :
Buy Stock + Sell Call Option

When to Use: This is often employed when an investor has a short-term neutral to moderately bullish view on the stock he holds. He takes a short position on the Call option to generate income from the option premium.
Since the stock is purchased simultaneously with writing (selling) the Call, the strategy is commonly referred to as “buy-write”.
Risk: If the Stock Price falls to zero, the investor loses the entire value of the Stock but retains the premium, since the Call will not be exercised against him. So maximum risk = Stock Price Paid – Call Premium Upside capped at the Strike price plus the Premium received. So if the Stock rises beyond the Strike price the investor (Call seller) gives up all the gains on the stock.
Reward: Limited to (Call Strike Price – Stock Price paid) + Premium received
Breakeven: Stock Price paid - Premium Received

STRATEGY 7 : LONG COMBO
Strategy :  
Sell a Put + Buy a Call

 When to Use: Investor is Bullish on the stock.
Risk: Unlimited (Lower Strike + net debit)
Reward: Unlimited
Breakeven: Higher strike + net debit

STRATEGY 8: PROTECTIVE CALL /SYNTHETIC LONG PUT
 Strategy:
Short Stock + Buy Call Option

 When to Use: If the investor is of the view that the markets will go down (bearish) but wants to protect against any unexpected rise in the price of the stock.
Risk: Limited. Maximum Risk is Call Strike Price – Stock Price + Premium
Reward: Maximum is Stock Price – Call Premium

STRATEGY 9 : COVERED PUT

Strategy : Short Stock + Short Put Option

When to Use: If the investor is of the view that the markets are moderately bearish.
Risk: Unlimited if the price of the stock rises substantially
Reward: Maximum is (Sale Price of the Stock – Strike Price) + Put Premium
Breakeven: Sale Price of Stock + Put Premium

STRATEGY 10 : LONG STRADDLE

Strategy :  
Buy Put + Buy Call

When to Use: The investor thinks that the underlying stock / index will experience significant volatility in the near term.
Risk: Limited to the initial premium paid.
Reward: Unlimited
Breakeven:
· Upper Breakeven Point = Strike Price of Long Call + Net Premium Paid

· Lower Breakeven Point = Strike Price of Long Put - Net Premium Paid

STRATEGY 11 : SHORT STRADDLE

Strategy : Sell Put + Sell Call

When to Use: The investor thinks that the underlying stock / index will experience very little volatility in the near term.
Risk: Unlimited
Reward: Limited to the premium received
Breakeven:
· Upper Breakeven Point = Strike Price of Short Call + Net Premium Received
· Lower Breakeven Point = Strike Price of Short Put - Net Premium Received

STRATEGY 12 : LONG STRANGLE

Strategy :
Buy OTM Put + Buy OTM Call

When to Use: The investor thinks that the underlying stock / index will experience very high levels of volatility in the near term.
Risk: Limited to the initial premium paid
Reward: Unlimited
Breakeven:
· Upper Breakeven Point = Strike Price of Long Call + Net Premium Paid
· Lower Breakeven Point = Strike Price of Long Put - Net Premium Paid

STRATEGY 13. SHORT STRANGLE

Strategy :  
Sell OTM Put + Sell OTM Call

When to Use: This options trading strategy is taken when the options investor thinks that the underlying stock will experience little volatility in the near term.
Risk: Unlimited
Reward: Limited to the premium received
Breakeven:
· Upper Breakeven Point = Strike Price of Short Call + Net Premium Received
· Lower Breakeven Point = Strike Price of Short Put - Net Premium Received

STRATEGY 14. COLLAR

Strategy :
Buy Stock + Buy Put + Sell Call

When to Use: The collar is a good strategy to use if the investor is writing covered calls to earn premiums but wishes to protect himself from an unexpected sharp drop in the price of the underlying security.
Risk: Limited
Reward: Limited
Breakeven: Purchase Price of Underlying – Call Premium + Put Premium

STRATEGY 15. BULL CALL SPREAD STRATEGY

Strategy :
Buy a Call with a lower strike (ITM) + Sell a Call with a higher strike (OTM)

When to Use: Investor is moderately bullish.
Risk: Limited to any initial premium paid in establishing the position. Maximum loss occurs where the underlying falls to the level of the lower strike or below.
Reward: Limited to the difference between the two strikes minus net premium cost. Maximum profit occurs where the underlying rises to the level of the higher strike or above

Break-Even-Point (BEP): Strike Price of Purchased call + Net Debit Paid

STRATEGY 16. BULL PUT SPREAD STRATEGY

Strategy :
Sell a Put + Buy a Put

When to Use: When the investor is moderately bullish.
Risk: Limited. Maximum loss occurs where the underlying falls to the level of the lower strike or below
Reward: Limited to the net premium credit. Maximum profit occurs where underlying rises to the level of the higher strike or above.
Breakeven: Strike Price of Short Put - Net Premium Received

STRATEGY 17 : BEAR CALL SPREAD

STRATEGY :
Sell a Call with a lower strike (ITM) + Buy a Call with a higher strike (OTM)

When to Use: When the investor is mildly bearish on market.
Risk: Limited to the difference between the two strikes minus the net premium.
Reward: Limited to the net premium received for the position i.e., premium received for the short call minus the premium paid for the long call.
Break Even Point: Lower Strike + Net credit

STRATEGY 18 : BEAR PUT SPREAD STRATEGY

Strategy :  
BUY A PUT with a higher strike (ITM) + SELL A PUT with a lower strike (OTM)

When to Use: When you are moderately bearish on market direction
Risk: Limited to the net amount paid for the spread. i.e. the premium paid for long position less premium received for short position.
Reward: Limited to the difference between the two strike prices minus the net premium paid for the position.
Break Even Point: Strike Price of Long Put – Net Premium Paid

STRATEGY 19: LONG CALL BUTTERFLY

STRATEGY :  
SELL 2 ATM CALL, BUY 1 ITM CALL OPTION AND BUY 1 OTM CALL OPTION

When to Use: When the investor is neutral on market direction and bearish on volatility.
Risk Net debit paid.
Reward Difference between adjacent strikes minus net debit
Break Even Point:
Upper Breakeven Point = Strike Price of Higher Strike Long Call – Net Premium Paid
Lower Breakeven Point = Strike Price of Lower Strike Long Call + Net Premium Paid

STRATEGY 20 : SHORT CALL BUTTERFLY

STRATEGY : BUY 2 ATM CALL OPTIONS, SELL 1 ITM CALL OPTION AND SELL 1 OTM CALL OPTION.

When to Use: You are neutral on market direction and bullish on volatility. Neutral means that you expect the market to move in either direction - i.e. bullish and bearish.

Risk Limited to the net difference between the adjacent strikes (Rs. 100 in this example) less the premium received for the position.

Reward Limited to the net premium received for the option spread.

Break Even Point:
Upper Breakeven Point = Strike Price of Highest Strike Short Call - Net Premium Received
Lower Breakeven Point = Strike Price of Lowest Strike Short Call + Net Premium Received

STRATEGY 21: LONG CALL CONDOR

STRATEGY : 
BUY 1 ITM CALL OPTION (LOWER STRIKE), SELL 1 ITM CALL OPTION (LOWER MIDDLE), SELL 1 OTM CALL OPTION (HIGHER MIDDLE), BUY 1 OTM CALL OPTION (HIGHER STRIKE)

When to Use: When an investor believes that the underlying market will trade in a range with low volatility until the options expire.
Risk Limited to the minimum of the difference between the lower strike call spread less the higher call spread less the total premium paid for the condor.
Reward Limited. The maximum profit of a long condor will be realized when the stock is trading between the two middle strike prices.
Break Even Point:
Upper Breakeven Point = Highest Strike – Net Debit
Lower Breakeven Point = Lowest Strike + Net Debit

STRATEGY 22 : SHORT CALL CONDOR
STRATEGY :
SHORT 1 ITM CALL OPTION (LOWER STRIKE), LONG 1 ITM CALL  OPTION (LOWER MIDDLE), LONG 1 OTM CALL OPTION (HIGHER MIDDLE), SHORT 1 OTM CALL OPTION (HIGHER STRIKE)
When to Use: When an investor believes that the underlying market will break out of a trading range but is not sure in which direction.
Risk Limited. The maximum loss of a short condor occurs at the center of the option spread.
Reward Limited. The maximum profit of a short condor occurs when the underlying stock / index is trading past the upper or lower strike prices.
Break Even Point:
Upper Breakeven Point = Highest Strike – Net Credit
Lower Break Even Point = Lowest Strike + Net Credit
Breakeven: Stock Price – Call Premium

Trading Terminology : OPTION TERMINOLOGY

                                      OPTION TERMINOLOGY

Index options:  
These options have the index as the underlying. In India, they have a European style settlement. Eg. Nifty options, Mini Nifty options etc.

Stock options: 
Stock options are options on individual stocks. A stock option contract gives the holder the right to buy or sell the underlying shares at the specified price. They have an American style settlement.

Buyer of an option: The buyer of an option is the one who by paying the option premium buys the right but not the obligation to exercise his option on the seller/writer.

Writer / seller of an option: 
The writer / seller of a call/put option is the one who receives the option premium and is thereby obliged to sell/buy the asset if the buyer exercises on him

Call option:  
A call option gives the holder the right but not the obligation to buy an asset by a certain date for a certain price.

Put option: A put option gives the holder the right but not the obligation to sell an asset by a certain date for a certain price.

Option price/premium: Option price is the price which the option buyer pays to the option seller. It is also referred to as the option premium.

Expiration date:  
The date specified in the options contract is known as the expiration date, the exercise date, the strike date or the maturity.

Strike price: The price specified in the options contract is known as the strike price or the exercise price.

American options:  
American options are options that can be exercised at any time upto the expiration date.

European options: 
European options are options that can be exercised only on the expiration date itself.


In-the-money option:
An in-the-money (ITM) option is an option that would lead to a positive cash flow to the holder if it were exercised immediately. A call option on the index is said to be in-the-money when the current index stands at a level higher than the strike price (i.e. spot price > strike price). If the index is much higher than the strike price, the call is said to be deep ITM. In the case of a put, the put is ITM if the index is below the strike price.

 At-the-money option:  
An at-the-money (ATM) option is an option that would lead to zero cash flow if it were exercised immediately. An option on the index is at-the-money when the current index equals the strike price (i.e. spot price = strike price).

Out-of-the-money option: 
An out-of-the-money (OTM) option is an option that would lead to a negative cashflow if it were exercised immediately. A call option on the index is out-of-the-money when the current index stands at a level which is less than the strike price (i.e. spot price < strike price). If the index is much lower than the strike price, the call is said to be deep OTM. In the case of a put, the put is OTM if the index is above the strike price.

Intrinsic value of an option: 
The option premium can be broken down into two components - intrinsic value and time value. The intrinsic value of a call is the amount the option is ITM, if it is ITM. If the call is OTM, its intrinsic value is zero. Putting it another way, the intrinsic value of a call is Max[0, (St — K)] which means the intrinsic value of a call is the greater of 0 or (St — K). Similarly, the intrinsic value of a put is Max[0, K — St],i.e. the  greater of 0 or (K — St). K is the strike price and St is the spot price.

Time value of an option: The time value of an option is the difference between its premium and its intrinsic value. Both calls and puts have time value. An option that is OTM or ATM has only time value. Usually, the maximum time value exists when the option is ATM. The longer the time to expiration, the greater is an option's time value, all else equal. At expiration, an option should have no time value.

Be Proud Indian

History lesson for non Indians & of course indians

FACT about INDIA! Rather INDIANS. It makes you feel real proud.



These facts were recently published in a German Magazine, which deals with
WORLD HISTORY FACTS ABOUT INDIA.

Ø India never invaded any country in her last 10000 years of history.

Ø India invented the Number System. Zero - was invented by Aryabhatta.

Ø The World's first university was established in Takshila in
700BC.more than 10,500 students from all over the world studied more than 60
subjects.

Ø The University of Nalanda built in the 4th century BC was one of the
greatest achievements of ancient India in the field of education.

Ø Sanskrit is the mother of all the European languages. Sanskrit is the
most suitable language for computer software reported in Forbes magazine,
July 1987.

Ø Ayurveda is the earliest school of medicine known to humans. Charaka,
the father of medicine consolidated Ayurveda 2500 years ago.Today Ayurveda
is fast regaining its rightful place in our civilization.

Ø Although modern images of India often show poverty and lack of
development, India was the richest country on earth until the time of
British invasion in the early 17th Century.

Ø The art of Navigation was born in the river Sindh 6000 years ago. The
very word Navigation is derived from the Sanskrit word NAVGATIH. The word
navy is also derived from Sanskrit'Nou'.

Ø Bhaskaracharya calculated the time taken by the earth to orbit the
sun hundreds of years before the astronomer Smart.; Time taken by earth to
orbit the sun: (5th century)365.258756484 days.

Ø Budhayana first calculated the value of pi, and he explained the
concept of what is known as the Pythagorean theorem. He discovered this in
the 6th century long before the European mathematicians.

Ø Algebra, trigonometry and calculus came from India; Quadratic
equations were by Sridharacharya in the 11th Century; The largest numbers
the Greeks and the Romans used were 10^6(10 to the power of 6) whereas
Hindus used numbers as big as 10^53(10 to the power of 53)with specific
names as early as 5000 BCE during the Vedic period. Even today, the largest
used number is Tera 1012(10 to the power of 12).

Ø According to the Gemmological Institute of America, up until 1896,
India was the only source for diamonds to the world.

Ø USA based IEEE has proved what has been a century-old suspicion in
the world scientific community that the pioneer of Wireless communication
was Prof. Jagdeesh Bose and not Marconi.



Ø The earliest reservoir and dam for irrigation was built in
Saurashtra.

Ø According to Saka King Rudradaman I of 150 CE a beautiful lake called
'Sudarshana' was constructed on the hills of Raivataka during Chandragupta
Maurya's time.

Ø Chess (Shataranja or AshtaPada) was invented in India.

Ø Sushruta is the father of surgery. 2600 years ago he and health
scientists of his time conducted complicated surgeries like caesareans,
cataract, artificial limbs, fractures, urinary stones and even plastic
surgery and brain surgery. Usage of anaesthesia was well known in ancient
India; over 125 surgical equipments were used. Deep knowledge of anatomy,
physiology, etymology, embryology, digestion, metabolism, genetics and
immunity is also found in many texts.

Ø When many cultures were only nomadic forest dwellers over 5000 years
ago, Indians established Harappan culture in Sindhu Valley (Indus Valley
Civilization)

Ø The place value system, the decimal system was developed in India in
100 BC.

QUOTES ABOUT INDIA

v Albert Einstein said: We owe a lot to the Indians, who taught us how
to count, without which no worthwhile scientific discovery could have been
made.

v Mark Twain said: India is the cradle of the human race, the birthplace
of human speech, the mother of history, the grandmother of legend, and the
great grand mother of tradition. Our most valuable and most structure
materials in the history of man are treasured up in India only.

v French scholar Romaine Rolland said: If there is one place on the face
of earth where all the dreams of living men have found a home from the very
earliest days when man began the dream of existence, it is India.

v Hu Shih, former Ambassador of China to USA said: India conquered and
dominated China culturally for 20 centuries without ever having to send a
single soldier across her border.

Some current information:

Q. Who is the Co-founder of Sun Microsystems (The Company which is sweeping
the internet with its brainchild Java)
A. Vinod Khosla

Q. Who is the Creator of Pentium Chip (Needs no introduction, 90% Of the
today's computers run on it)
A. Vinod Dahm


Q. Who is the current president of AT & T Bell Labs (AT & T Bell Labs is the
creator of C, ++, Unix to name a few)
A. Arun Netravalli

Q. Who is the founder and creator of Hotmail (Hotmail is world's No. 1 web
based email program)
A. Sabeer Bhatia

Q. Who is the GM of Hewlett Packard?
A. Rajiv Gupta

Q. Who is the Testing Director of Windows 2000?
A. Sanjay Tejwrika

Q.The Chief Executives of CitiBank,Mckensey,Stanchart are
A. Victor Menezes,Rajat Gupta,Rana Talwar.

Q. Who are CEOs of the following well-known companies Please find the
answers yourself.


ü AppNet

ü America Online (The Largest ISP in the World)

ü WebMethods

ü Lucent Technologies (Pioneer in Fiber Optics)

ü Proxicom

ü Network Solutions (The sole web domain assigner)

ü General Dynamics Corporation

ü Lazard Freres

ü Litton PRC

ü Columbia Capital

ü Primus Communications

ü Discovery Communications

ü Bell Atlantic

ü Cable & Wireless

ü The Motley Fool

ü Hughes Network Systems

ü Cybercash

ü MCI Worldcom

ü PSINet

ü Motorola

ü MicroStrategy

ü Equalfooting.com

ü Teligent, Inc.

ü MindBank

ü U.S. Airways

ü CIENA Corp.

ü BioNetrix

ü Net 2000 Communications

ü Computer Associates

ü SAIC

ü Startec

ü INOVA Health System

ü Cvent.com

ü Eglobe

ü Metrocall, Inc.

ü DynCorp

ü Consumer Elec. Ass'n

ü The Carlyle Group

ü Cyveillance

ü Nextel Communications

ü Fannie Mae

ü Intelsat

ü Raper Atlantic

ü Venture Fund, L.P.

ü Freddie Mac

ü Manugistics

ü Raytheon Systems Corporation

ü Spacevest

ü HSBC

ü United Airlines.

What did you find? Do you find anything common between them??
Yes, they are all "INDIANS".



We are known as the Indian Mafia (or Internet Mafia). We are the wealthiest
among all ethnic groups in America, even faring better than the whites and
the natives.

There are 3.22 Million Indians in America.

38% of Doctors in America are Indians.

12% of Scientists in America are Indians.

36% of NASA employees are Indians.

34% of MICROSOFT employees are Indians

28% of IBM employees are Indians

17% of INTEL employees are Indians
13% of XEROX employees are Indians

You may know some of these facts.
All the above is just the TIP of the iceberg the list could be endless.

BUT, if we don't see even a glimpse of that great India in the India that we
see today, it clearly means that we are not working up to our potential and
that if we do, we could once again; be an ever shining and inspiring country
setting a bright path for rest of the world to follow.


I hope you enjoyed it and work towards the welfare of INDIA.


Say Proudly, I AM AN INDIAN

Market Holidays in 2012

NSE Holidays for 2011

Sl. No	Date	Day	Description
1	26-Jan-2011	Wednesday	Republic Day
2	02-Mar-2011	Wednesday	Mahashivratri
3	12-Apr-2011	Tuesday	Ram Navmi
4	14-Apr-2011	Thursday	Dr. Ambedkar Jayanti
5	22-Apr-2011	Friday	Good Friday
6	15-Aug-2011	Monday	Independence Day
7	31-Aug-2011	Wednesday	Ramzan ID
8	01-Sep-2011	Thursday	Ganesh Chaturthi
9	06-Oct-2011	Thursday	Dasara
10	26-Oct-2011	Wednesday	Laxmi Puja*
11	27-Oct-2011	Thursday	Diwali - Balipratipada
12	07-Nov-2011	Monday	Bakri ID
13	10-Nov-2011	Thursday	Gurunanak Jayanti
14	06-Dec-2011	Tuesday	Moharum

* Muhurat Trading will be conducted. Timings of Muhurat Trading shall be notified subsequently

BSE Holidays for 2012

Sl. No	Date	Day	Description
1	26-Jan-2012	Thursday	Republic Day
2	20-Feb-2012	Monday	Mahashivratri
3	08-Mar-2012	Thursday	Holi
4	05-Apr-2012	Thursday	Mahavir Jayanti
5	06-Apr-2012	Friday	Good Friday
6	01-May-2012	Tuesday	Maharastra Day
7	15-Aug-2012	Wednesday	Independence Day
8	20-Aug-2012	Monday	Ramzan Id
9	19-Sep-2012	Wednesday	Ganesh Chaturthi
10	02-Oct-2012	Tuesday	Mahatma Gandhi Jayanti
11	24-Oct-2012	Wednesday	Dussera - Vijaya Dashmi
12	13-Nov-2012	Tuesday	Diwali Amavasya (Laxmi Pujan)*
13	14-Nov-2012	Wednesday	Diwali Balipratipada
14	28-Nov-2012	Wednesday	Gurunanak Jayanti
15	25-Dec-2012	Tuesday	Christmas

* Muhurat Trading will be conducted. Timings of Muhurat Trading shall be notified subsequently 

 

 

MCX Holidays for 2012

Sl. No	Date	Day	Description
1	26-Jan-2012	Thursday	Republic Day
2	20-Feb-2012	Monday	Mahashivratri*
3	08-Mar-2012	Thursday	Holi*
4	05-Apr-2012	Thursday	Mahavir Jayanti*
5	06-Apr-2012	Friday	Good Friday
6	14-Apr-2012	Saturday	Dr. Ambedkar Jayanti*
7	01-May-2012	Tuesday	Maharastra Day*
8	15-Aug-2012	Wednesday	Independence Day
9	20-Aug-2012	Monday	Ramzan Id*
10	19-Sep-2012	Wednesday	Ganesh Chaturthi*
11	02-Oct-2012	Tuesday	Mahatma Gandhi Jayanti
12	24-Oct-2012	Wednesday	Dussera - Vijaya Dashmi*
13	26-Oct-2012	Friday	Bakri Id*
14	13-Nov-2012	Tuesday	Diwali (Laxmi Pujan)**
15	28-Nov-2012	Wednesday	Gurunanak Jayanti*
16	25-Dec-2012	Tuesday	Christmas

* Evening trading session is open on these trading holidays.
** Muhurat Trading will be conducted. Timings of Muhurat Trading shall be notified subsequently

NCDEX Holidays for 2012

Sl. No	Date	Day	Description
1	26-Jan-2012	Thursday	Republic Day
2	20-Feb-2012	Monday	Mahashivratri*
3	08-Mar-2012	Thursday	Holi*
4	05-Apr-2012	Thursday	Mahavir Jayanti*
5	06-Apr-2012	Friday	Good Friday
6	14-Apr-2012	Saturday	Dr. Ambedkar Jayanti*
7	01-May-2012	Tuesday	Maharastra Day*
8	15-Aug-2012	Wednesday	Independence Day
9	20-Aug-2012	Monday	Ramzan Id*
10	19-Sep-2012	Wednesday	Ganesh Chaturthi*
11	02-Oct-2012	Tuesday	Mahatma Gandhi Jayanti
12	24-Oct-2012	Wednesday	Dussera - Vijaya Dashmi*
13	26-Oct-2012	Friday	Bakri Id*
14	13-Nov-2012	Tuesday	Diwali (Laxmi Pujan)**
15	14-Nov-2012	Wednesday	Diwali Balipratipada
16	28-Nov-2012	Wednesday	Gurunanak Jayanti*
17	25-Dec-2012	Tuesday	Christmas

* Evening trading session is open on these trading holidays.
** Muhurat Trading will be conducted. Timings of Muhurat Trading shall be notified subsequently