I had written a few days ago that NIFTY is knocking at 11500 level. It looked that door would open but the attempt could not succeed on Friday, August 17, 2018.

Still, NIFTY closed with a very handsome gains of 85.70 points.

The rally was led by banks. On such occasions in the past YESBANK was a laggard. On Friday, it was among the top gainers. It made the new 52 week high at Rs. 395.65. With the momentum now built, it would not be a surprise if it goes above Rs. 400. Let us not count our chickens before they hatch, but this trade looks to have potential to give good rewards. Only they should happen quickly to soothe our frayed nerves.

L&TFH  also did well to move up and our CALL 190 is recovering now.

This is what Moneycontrol website says about the prospects of this stock in short term.

Link to the article :


Let us see what actually happens. We are happy if it goes beyond Rs. 200 also.

To see that we do not become complacent, GAIL did a somersault. On Thursday, it was the top NIFTY gainer on a losing day. On Friday, when NIFTY gained 85 points, this stock was the biggest NIFTY loser. This is the uncertainty of the markets. I am still of the view that it will close above 400 on Expiry.

This is the status for CALL BUYER :



We should not be expecting PUTS to do well on such days. Still it was not a very bad day. Though not much value was added to the PUTS, but DRREDDY, HEROMOTOCO and BIOCON ended lower than previous day. It should be considered as a good sign.

With 8 trading days remaining over next two weeks, we want a few of them to become profitable.

The two new trades in HINDPETRO 260 PUT @ Rs. 4.60 and UPL 580 PUT @ Rs. 5.50 are taken and they will add a little more to the loss amount.

Here is the status:

Not a good picture. But we have been through such situations earlier and hopefully come out unscathed again.

This was all about the week gone by.

This post was actually meant for Sunday but somehow got delayed. The position remains same on Monday morning.

Let us get back to trading.

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.