After three days of declines, 13 , 86 and 181 points respectively, NIFTY bounced back by 92 points on Friday.
The advantage of taking the trades based on individual strength and weakness is that at times it does not relate to NIFTY. A rise of this magnitude could have hurt our trades badly, fortunately our PUT stocks remained week.
The star of the week was SUNPHARMA trade in PUT 450.
See how it moved along with the price over 6 days of trading.
I had entered a trade at Rs. 8.00 on November 30 and exited on Friday just before close at Rs. 45.00.
The stock is surrounded by controversies at this point of time and the down trend may continue. To take advantage of the trend continuation, PUT 380 was taken at Rs. 8.00 before exit from PUT 450.
Among other stocks, RELCAPITAL and TATAMOTORS made fresh 52 week lows on Thursday as well as Friday. It iis a real sign of weakness. These trades too are doing well.
TATASTEEL too continues to be week and with US and China at loggerheads with each other and glut of steel production in China, steelmakers are not likely t command a high price in near future.
INFY went wrong on Friday after raising hopes a day earlier.
TITAN gained a little.
This was the position on Friday:
Trend on Monday:
Monday may see NIFTY again drift down to negative zone. There are two reasons for that.
(1) US Markets fell very sharply on Friday. The recovery shown on Thursday gave way to selling pressure all around. Nasdaq fell more than 3%. Our market can not remain aloof from these trends for too long.
(2) Exit Polls for State Assembly elections have not given encouraging numbers for BJP. This will be a sentiment dampener.
We wait for tomorrow with hope and anticipation.
Enjoy the Sunday.
Ravi kumar December 9, 2018 at 7:46 pm
Great writings as usual sir..thanksReply