NIFTY went down for seventh day.
From a high of 11118 on February 07, 2019 it is now down to 10640.95. Yesterday’s fall was 83 points.
For us the day was good, not very good.
M&M made another 52 week low and then did what it has done 4-5 times already this month. Moved higher. PUT 630 was closed and PUT 600 entered.
IDEA PUT 30 moved higher in price even though stock price moved up. Volatility does it.
GRASIM and HINDPETRO PUTS gained whereas HROMOTOCO lost some value.
SUNPHARMA PUT 400 was the new trade yesterday and it could be entered at Rs. 4.50. For the day it performed well. How it goes from here is to be seen.
LT and BHEL did nothing and ZEEL seems to be now out of contention.
Well, you win some and you lose some.
Our position ended up little better than where we were on Friday.
We need a big down move in the likes of GRASIM, HEROMOTOCORP, IDEA or BHEL to get into a good profit. Whether that happens is up to the market.
Outlook for today :
Asia is trading almost flat with a positive bias. SGX Nifty is up by 22 points. We have seen that these indications do not work out most of the time.
With such prolonged decline in the market, apparently there would be many new opportunities. This is the fallacy of the thought process which we traders fail to understand. A new trade has as much chance of being right as our existing trade. Trades should be taken with the clear understanding about the capacity to bear the loss in case of going wrong. The grass in the garden is not always green.
Let us not take new trades for today.
Monitor the progress of existing trades. 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.
kaushik February 19, 2019 at 9:33 am
IMAGE IS NOT OPENINGReply
Hrishikesh Raskar February 19, 2019 at 9:59 am
Hi sir when will be workshop in Delhi region. ?Reply
Abhinav February 19, 2019 at 10:06 am
What condition do we look up for IV to enter a trade?Reply
Satyajeet February 19, 2019 at 3:33 pm
A R February 19, 2019 at 11:24 am
Question for all
Is there any app/website where we can paper trade options. I want to test how my picks are performing as per Sir’s strategy.
A R February 19, 2019 at 10:34 pm
@Satyajeet – NSE pathshala was closed long time back. Below is the link of the sameReply
KV Rao February 21, 2019 at 9:44 am
Use Excel worksheet.Reply
MR February 19, 2019 at 2:07 pm
idea stock movement.. equity is down.. put is down.. and call is up.. strangeReply