There seems to be no let up in the forward move by NIFTY. It goes on unhindered by any news good or bad. State Assembly results did not go well for the ruling party. Market did not care. RBI Governor resigned in a little bit of controversy. No big deal. US Markets lost 2% on two occasions and the European Markets made the 52 week lows. Who cares?

NIFTY is now at 10967.30 and knocking at the door for 11000 levels.

This is how the move has been since the low of 10333 on December 11 during the day.

Everyday has been a gainer since then. A very swift turn around indeed.

In such a big move our only CALL Option did absolutely nothing. It did not move anywhere and with 600 points gain in the index we are looking at a loss in the call option.

PUTS anyway are not meant to do well in a rising market.

Over last two days our mark to market loss has risen from Rs. 13000 to Rs. 24000. Not a good position to be in with only 5 days left for Expiry.

Memories of June 2018 are coming back. It was almost a similar situation which turned profitable at Expiry. I shall be really happy if the repeat of that month happens.

I read a poem in my childhood which had a very inspiring phrase —- You may dream of the heaven but the feet must be firmly on earth.

Here is the situation on the ground dreams of a profitable close notwithstanding:

We shall wait and watch today as well.

US Markets :

After the FOMC announcing rate hikes, Dow Jones and Nasdaq lost big in Friday’s trading. Nasdaq made the 52 week low yesterday.

Asia Markets too are subdued at the moment and SGX NIFTY is down about 80 points.

We have seen recently that our markets are moving ahead with total disregard to whatever is happening elsewhere. Whether that trend continues or fall in line with the rest will decide the fate of our trades.

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.