Friday closed with a bang. NIFTY moved up very sharply in the last hour of trades to close at 11665.
Less than 100 points from the all time high and another attempt at crossing that number of 11761 is still on the cards.
Our trades did not do well on Friday with the exception of BRITANNIA and INDUSINDBK in which the loss was reduced a little. Overall, there was not much change from the previous day.
We have 7 trades currently. The risk involved is about Rs. 53000. It would be prudent not to increase this risk in these early days.
So we stay with these trades and do not add fresh trades today.
Looking for new trades is important but not adding to the risk is also important.
There were some CALL trades suggested by one of our readers Mr. YOGI few days ago. NIFTY has moved up since then and by this logic, CALLS should have made money. But they did not.
You can read about it here:
Asia Markets are trading almost flat. SGX NIFTY is just 3 points in the red as I write. We can see flattish trading till 2:30 pm and then know one knows how the last one hour goes.
No point in trying to guess.
Let us just live with whatever is happening.
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.
vishal agarwal April 8, 2019 at 11:51 am
Sir, Hindpetro is now weak over 7days and it has even underperformed the Nifty by almost 2%. 240PE @ 3 looks like an opportunity. Your thoughts?Reply