We are back to trading after a long weekend.

On Friday , this is what Nifty did.

Our positions had gone bad at one point but we ended the day without any major difference from Thursday.

ONGC PUT 137.5 is becoming bothersome now as there are almost no trades of this strike. We try to book profit today and move to PUT 127.5.

We look towards TATASTEEL to make yet another 52 week low.

Once again, the day is likely to be volatile.

New Trades:

AXISBANK is weak over 30 days as well as 7 days.

PUT 640 @ Rs. 8.00-8.50 can work out nicely if the trend persists.

Lot Size 1200 Maximum Risk Rs. 10200.

Trade cautiously, trade profitably.

Disclaimer: This post and examples are for teaching purpose only and are not meant as advice/suggestion to trade in these stocks. Trading in Futures and Options can lead to big losses and should be done with appropriate knowledge and advice only. Mentioning the stocks here does not imply that I have a trading position or likely to take a trade in these stocks.