NIFTY came back with a big bounce after being on the back foot for two days.
Let us now look at the finer points. It closed near to the low point of the day. The high of the day was 12172.30. The close was much lower.
The 63 point fall on Monday improved our position by almost Rs. 18000.
76 point gain yesterday caused us a loss of about Rs. 2000 in the mark to market comparison. The day could have been far worse. Lucky that we escaped without punishment.
We stay with the current trades and do not add any new positions today.
Let us hope that EICHERMOT, CANBK and ZEEL and SUNPHARMA maintain their negative trend for the month while a good down move in TATASTEEL will be equally welcome.
Finally it is about what the market does. Our part is already done.
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.