NIFTY ended flat for the third day in a row.
Such a flat market is never good for Option Buyers. Time gone by takes away a lot of premium and we are left looking at the depleted value of the options.
Our Time In The Sunshine :
It was once again sunshine for us because of SUNPHARMA. This stock gave us decent profit in October Expiry when we had PUT 450. This time we were holding PUT 380 and had seen it move from Rs. 5.00 to Rs. 0.30. In just two days, it came back into profit and how nicely?
This is theme which we are talking about all the time at this site. Volatile stocks make sharp moves and the trade suddenly becomes profitable. Those traders who tried to save some small amount by getting out missed the profit opportunity.
PUT 380 moves back into profit. Many of the readers had gone for PUT 400 and it gives better profit. Let us hope that the trend continues for a few days more. The new 52 week low was made of Friday at Rs. 370. We are looking forward to a breach of that level and move towards Rs. 350 before expiry.
BHARATFORG too moved slightly lower. That helped reduction is loss.
All other trades remained almost at same levels. SUNPHARMA move made life little easy for us.
Now we are having three trades which have gone right and with a small favorable move we should be looking at a decent profit.
This is how the situation looks at the end of week:
The picture got better during the week. We still have to be careful because a profit is not a profit till it is booked. Stay careful, stay sharp and look forward to the coming week with a positive frame of mind.
Let trend be our friend in these uncertain times in the market.
The week gone by was good. Let us hope that next week turns out better than this.
Enjoy your Sunday. Will be back tomorrow morning with trades for Monday.