On Monday we saw Nifty going down by another 48 points.

The day was good for our trades.

L&TFH made a new 52 week low at Rs. 79.50 though it is still far from our selected strike price.

DLF also went with the trend for the day and added a few points for us.

New trade for the day was TATASTEEL PUT 310 and this stock too came very close to its 52 week low.

The position on Monday:

Remember it is all notional till it is booked. Things can go very nicely from here and they can go very bad too. The memory of September 20 is very recent. It is time to stay alert with the trades.

With 8 trades already on and doing fine, we are not looking for any new trades today.

If SUNPHARMA moves lower today and PUT 380 reaches the Rs. 19.50-20.00 price, we can exit this trade and move to PUT 350 for the same price level of around Rs. 6.50.

If any of the other trades also reaches 3 times the buy price, a similar action is suggested.

That way, we are booking a part of profit and still staying with the trend with a lower risk.

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.