Yesterday was the second day of the series.

We had very good luck with the trades on day 1 and were prepared for a setback yesterday. After all, you expect to be chased by the watchman if you are throwing stones at mango trees.

Once again, the watchman was missing.

ITC PUT 145 went into further loss. ASIANPAINT, AXISBANK and HAVELLS gave away part of the profit made on previous day. Good performance came from BANKBARODA PUT 37.5 which now has become In The Money.

The status at end of day yesterday:

What do we do now ? :

Once again, SGX NIFTY is showing signs of a positive trend. That may spoil our trades. But the up move yesterday did not affect our trades.

Well, we cash the big one — BANKBARODA at near the current price. I shall be looking for Rs. 3.00 and stay with the others.

Banking remains the weakest sector in the market. So we do not leave the sector yet.

INUSINDBANK PUT 320 @ Rs. 7.50-8.00 can be entered. That trade has a maximum risk of Rs. 3200 with a lot size of 400.

COALINDIA PUT 115 @ Rs. 1.15 -1.25 is another trade which can work out if the stock resumes its downward movement. Lot size is 2700, maximum risk Rs. 3375.

Both the trades to be initiated after closing the BANKBARODA trade. We can not exceed our budget of Rs. 20000 at any time.

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.