We are into the last week of the year now.
As the year draws to a close, we are left with 3 trading days in December Expiry for our trades to work out. A real tall order considering the fact that a near 200 point fall in NIFTY on Friday reduced our losses by mere Rs. 2000.
This month has been a roller coaster. NIFTY was at 10858 on November 29, 2018 ( November Expiry ). From there it went on to make a low of 10333 on December 11, 2018 and went up to a high of 10985 on December 19. Once again it came down to go below the November Expiry level. As most of the FIIs do not trade heavily in this Christmas-New Year week, it should be a low volatility period which is not good for us.
I am resigned to this month now turning out to be a losing month but would still give the remaining three days to the market for bringing a meaningful change to our positions.
This is where we stand now:
US Markets once again closed at the lowest point in the year 2018. The entire gains of Dow Jones and Nasdaq were wiped out in the last one week. Our market is doing better than that.
NIFTY was at 10530 on the last trading day of the year in December 2017. We are 254 points higher from that point as on Friday. Let us see what happens over 5 remaining trading days of this year.
With Asia Markets trading in the red, SGX NIFTY is mildly positive at 12 point gain. But we know it has stopped being a good indicator of the opening trend. So we remain as unsure as ever about the likely trend. The downward momentum was so strong on Friday that it may not be easy for the trend to reverse from here. Let us see what actually happens.
BHARTIARTL did well on Friday. PUT 300 could be bought for Rs. 1.40. Actually it had traded at rs. 0.85 also, but we consider the price as rs. 1.40 which was the suggested price.
No new trade is suggested for today.
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.