On Friday, NIFTY took a breather.
After many days, it moved lower by 41 points.
It did not change our position much but we now see a glimmer of hope and possibility in some of the trades. NIFTY fell by just 41 points but some stocks showed extreme volatility , notable among them were GAIL, SBIN etc which moved either way after the results.
Once again, we saw that SBIN moved up after bad results. ICICIBANK had come up with its worst results few days ago and the stock is on the rise since then. Logic– The worst is already behind us. Tomorrow if the stock falls, we shall be inventing some new logic for that too. That is market for all of us.
We take our hits and move on.
Here are the positions :
CALL BUYER :
PUT BUYER :
The trades which look promising at this stage are YESBANK and L&TFH for the CALLS and BIOCON, TATAMOTORS and TATAGLOBAL for the PUTS.
We do not know which way the market will move but a good move in few of the stocks can help us in a big way.
Is it time to start worrying about the trades ?
Expiry day is still far away with 12 trading days still remaining. We have seen in the past that even two trading days are enough for a turnaround in the trading positions. We expect the same again.
It is all about believing in your trades.
Back to the market and trading tomorrow.
Enjoy the Sunday.
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.