Nifty ended lower by 87 points.
In the morning we had read about bullish candlesticks etc on various forums. As usual, market did not care and by evening same people wrote about bearish candlesticks. It is real fun and enjoyment to read those words of wisdom.
Once again, we are below 11600. We were here at some stage two days ago as well. markets are dynamic even when going nowhere.
This is how the journey of the day turned out:
NIFTY going down like this should have brought cheer to us. We are the people with 6 PUTS and 1 CALL trades.
The move brought down the INDUSINDBK. It is acceptable and was expected.
What spoiled the trades was that stocks like BIOCON and BRITANNIA ended up positive. TATASTEEL and TATAMOTORS are so far gone that they can not give us much grief now. RELCAPITL too did not fall with the index.
For us, the day being negative did not bring any cheer.
The position worsened by another Rs. 3000 as compared to previous day.
We stay with the trades.
No new trade today.
Watch for any big move in any of them it happens. If not, we just hold the fort for another day.
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.