Our trades did not buck the trend yesterday.
The indices kept going lower, so did our stocks. In such an event, we are supposed to get the initial credit amount as profit.
No issues with that. We can not have argument with the market and gladly accept whatever the market wants to give us.
The trades in Bank Nifty set up were taken early in the day:
The initial credit received was 220 points which is less than what we hd expected.
It is how it went by end of day:
Good enough. As BANKNIFTY moved lower, the trades came back into profit.
This is the status of trades in HDFCBANK:
We are in a good place with these trades and will look for closing when the profit moves to around Rs. 4500 level.
In the set up with ITC, we had got initial credit of Rs. 5120. There was a stage during the day when it was giving a profit of Rs. 4000. As it is a significant part of the total credit, it was decided to book the profit.
Trades were closed between 12:06 pm to 12:21 pm.
We are now left with two trades in position— HDFCBANK and BANKNIFTY.
New Trade :
We set up again with ITC CALL 170, 175 and 185. A credit of above Rs. 5000 is the desired target.
That is all for the 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.