As was expected, NIFTY closed higher yesterday.
It was up by 44.45 points. ( Forget the 0.00 in the above image, NSE site has such issues at times).
What A Miss ? :
Yesterday we had selected a trade in ASHOKLEY PUT 92.5. I had suggested a price range from Rs. 1.40-1.60 considering that the stock will open higher and we can enter at a good price. The low price for the day was Rs. 1.70 and the trade could not be entered. This is how the plans go wrong. The stock kept making new lows throughout the day even when overall trend of the market was strong. It made a new 52 week low at Rs. 93.05 and closed at Rs. 93.25.
Well, I missed this trade. It is good that the readers have become astute now and apply their mind to the trades. In the comments on yesterday’s post I got to know that one reader went for PUT 95 @ Rs. 2.50. Good for him as it moved up to Rs. 4.70 during the day. Another reader bought PUT 92.5 at a price higher than the suggested price. Again a good choice. All the best for your trades but I will not consider this trade for the profit/loss chart in these pages.
TATASTEEL went up to Rs. 501 at one stage. After that it started climbing down and finally ended in the negative for the day. That gives us a chance. Another good move on the down side and we may get another 52 week low. I surely am looking for that.
M&M did not do much for us. Only consolation is that it did not run away from us.
INFY did all the right things and kept moving higher throughout the day even when NIFTY was moving down.
SUNPHARMA moved down a bit but that was of no use to us.
Overall not a bad day for us. The position became slightly better that previous day. If only ASHOKLEY trade would have been taken things would have become much better. Such hits and misses are part of a trader’s day. Move on.
New Trades :
I have always wanted the readers to interact and share their trades and trading ideas.
Here is one sent by a reader yesterday.