This is what I wrote yesterday:
We are now poised at the point where trades can go either way. Seeing a likely profit and then giving it back is something which happens to traders quite often and is never a pleasant experience. We have gone through that situation few times in the last 3 months. Let us hope we do not go there again.
We had to go through the unpleasant experience once again. NIFTY gained just 16 points but our stocks refused to go down.
The saving grace was that almost all of them came down significantly from their high points thus saving us the blushes. Otherwise, we would have been looking at a loss.
The trade in SUNPHARMA PUT 410 was taken at Rs. 5.60 and as usually happens, the stock went up and we saw the PUT going down to Rs. 4.80. Towards the close, it recovered to Rs. 5.85.
Well, some damage occurred to our positions yesterday, let us hope it is repaired today. It is always possible to bounce back.
We stay with the trades.
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.