Another flat day for the NIFTY. It closed higher by just 7 points.
Though the Index was flat, there were big moves in NIFTY stocks, some gaining very big and some losing in a big way. One of our selections was among the big losers. SUNPHARMA was down 7.55% on the back of the news that SEBI has reopened an inquiry into a previously settled case of insider trading. There were some corporate governance issues too. In the evening there was a Conference Call by the management for clarity on the issues. Generally there is no smoke without fire. Let us see where this finally leads to. For the day, SUNPHARMA PUT 450 did well for us.
Other trades did not go well except the new trade in TITAN CALL 980.
It is early days in the game and we should not be hurrying into the trades. More opportunities will come.
This is the status of the current trades.
In two days we have taken 5 trades. Let us wait and watch today. Market has been going up for 6 trading days continuously. It is time for a slight fall in Index. It may happen today or it may happen later but markets do not keep moving up everyday. We shall be watching for the trend and then decide about more trades to be taken.
SGX NIFTY is down by about 20 points but we have seen in the past that it does not matter much.
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.