After the heady feeling on Tuesday ( Nifty down 183 points), it was a reality check on Wednesday when Nifty made an up move of 103 points.
It was natural that our trades will be impacted badly. They did.
The position on August 14:
After a long wait, ONGC PUT 137.5 was closed at Rs. 11.40 and it moved higher after that. PUT 125 was bought for a price of Rs. 2.50.
Among other trades only COALINDIA did better than previous day.
ASHOKLEY made new 52 week low at Rs. 60.30 but moved up afterwards in line with rest of the market. Let us see if it breaches Rs. 60 level. We need that to happen fast.
US markets had a big fall on Wednesday and were flat on Thursday. Asia is flat today. SGX NIFTY is up 53 points but that number is from previous day. With that we should be ready for a negative opening but who actually knows what the market will do?
We shall see what happens and take what the market is willing to give us.
We are into enough trades already and do not take any new trade today.
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.