Nifty was down 320 points yesterday.

With many SHORT trades in position, the day turned out to be really good.

My concerns about SOLD PUTS in ICICIBANK and KOTAKBANK also proved true as these stocks also went lower and negated the advantage given by other short trades.

Out of 3 lots of PEL, 1 lot was squared off at a price of Rs. 800. As always happens with every trader, price went down further after my exit.

PVR down 5.73% was the big contributor to MTM yesterday. Then we had TATAMOTORS down 4.04%, PEL down 3.94%, UPL down 2.82%, RELIANCE down 2.69%, BHARTIARTL down 0.81% and BIOCON down 0.43%.

PEL came very close to breach the previous 52 week low as it made the day’s low at 785.75, earlier low being 785.05 on November 18.

All these trades combined to give a boost to MTM position.

Futures Position:

Options Position:

Futures — (+) 272763

Options — (-) 32713

Total —– (+) 240050.

Once again, this is Mark to Market position, not the actual profit booked. It may get better or worse on Monday.

Yesterday was the best day of the series for these trades as MTM went up from 112000 to 240000 in a single day.

From worst position to best:

Here we summarize how MTM moved with NIFTY.

December 05 was the worst day for these trades when NIFTY had closed at 18701.

DateNiftyMTM FuturesMTM OptionsTotal MTM
05/12/2218701(-) 176830(-)323(-) 176507
16/12/2218269(-) 44920(-) 14400(-) 59320
19/12/2218420.45(-) 66636(+) 2027(-) 68663
20/12/2218385.30(+) 1666(-) 2375(-) 709
21/12/2218199.10(+) 64420(-) 21398(+) 43022
22/12/2218127.35(+) 129116(-) 16804(+) 112312
23/12/2217806.80(+) 272763(-) 32713(+) 240050

Nifty going down almost 700 points has made a difference of Rs. 416557.

This is what the market can do.

I do not claim any special skill except that I am good in waiting when trades are moving in my direction.

How many traders would have exited when (-) 176507 had come to break even?

Almost 99%.

How many would have stayed with the trades till (+) 200000 ?

Almost no one.

Patience is one of the best tools of trade.

I may give back a part of these gains on Monday but having seen this position is certainly better than the gloomy position of (-) 176000.

This was the story of a rare very good week.

We continue the journey on Monday.

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.