Markets have a way of creating hope and then dashing it.
We had planned to exit the strategy yesterday if a certain profit target was achieved. Instead of a move in that direction, we saw erosion in the mark to market profit.
We now wait another day.
BANKNIFTY did not do much yesterday.
AXISBANK was among the losers and that was the one trade which caused reduction in profit.
The position at close yesterday:
Still looking good though not as much as a day ago.
We stay with the strategy for yet another day and see what the day holds for us.
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.