Not a very good story to tell for yesterday.
This was what NIFTY did.
It was at 11090.15 at one point. Went up by more than 200 points from there.
TATASTEEL was the first to make new 52 week low. Then L&TFH did that. Suddenly LICHSFG too made a new low. PNB was just Rs. 0.05 shy of that mark.
Life was good at 10:30 am. We waited for it to get better. That did not help.
The up move began. It was relentless. It did not stop. Not as severe as on September 20 but as damaging to our trades.
Our story of the day can be described with just one image:
From a notional profit of Rs. 40000 we came down to below Rs. 10000.
Still a positive situation.
We have been punched before and will be punished in future too. Let us stay on our feet and keep defending in the right way.
No new trades today. We watch the current trades.
The rally yesterday was not supported by the big names. As I have always maintained, such up moves do not sustain. We lost out yesterday, we may lose a little bit today but the game is still on.
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.