Welcome to Monday morning.
Friday was a strange kind of trading day. Narrow abrupt moves throughout the day kept us wondering about the final direction. It came in the last 30 minutes when almost everything went down except SBIN.
SBIN had moved to a low of near Rs. 292 just after the announcement of results but then found feet and climbed up. We shall know the real strength or the lack of it in the current week. Knee jerk reactions at result time are the order of the day.
We could take 2 new trades on Friday. MOTHERSUMI PUT 120 and BHARTARTL PUT 300. One went wrong and one was right.
Where do we go from here?
It is uncertain. And anyway, we are concerned only about our trades. NIFTY moves generally do not result into profits for us unless we are in the right trades.
On Friday, we gave up a part of our notional profits thanks mainly to the up move in SBIN. Other trades are more or less at the same position.
New Trades for the day :
SGX NIFTY is indicating a negative open.
It was showing the same on Friday too but the market opened strong and had remained strong for sometime. The last 30 minutes had done the trick.
We are sure of only one thing that we shall see a lot of volatility.
We are already into 8 trades. We do not take any new trades. Let us be watchful with our present trades and look for any decent gains wherever they happen.
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.