NIFTY continued to move up for the fourth day in succession.
A gain of 55 points for the day. The day was not without its ups and downs. There were lot of volatile moves in the afternoon session.
INFY went up to Rs. 689. Just when we started thinking of approaching towards 700 mark, it came crashing down to 664. By close it recovered to Rs. 675 levels. On the whole, a day wasted going nowhere.
Our performance for the day was just like this stock. From good at one point to just flat at the end.
It was possible to enter BHARATFORG PUT 460 at Rs. 8.20. The stock made a fresh 52 week low at Rs. 469.40 and then moved up to Rs. 478. Not good for us but such things happen. This was what TATASTEEL had done just two days ago.
TATASTEEL mercifully did not do that yesterday. It stayed low almost throughout the day and made yet another 52 week low, this time at Rs. 475.25. We want this stock to be below Rs. 460 and soon.
ZEEL PUT 420 was entered at Rs. 5.00 . This stock too showed a lot of volatility first moving towards 445 and then shooting up all the way to 461 before settling at 452. Volatility is the name of the game.
For all our efforts so far this month, we are now into 6 trades and the results are just flat.
This is better than being in a losing position. All the gains are from just one trade. It is time for other trades to come good. I have not yet forgotten about December. We need to be on the road to profitability soon.
No new trades for the day.
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.