Nifty turned positive towards close of trading yesterday.
A day earlier we got nothing when NIFTY fell 93 points. We lost more yesterday when this small gain happened. Before we list our woes let us look at how the markets performed over last 20 days.
NIFTY had closed at 10779.80 on December 27, 2018. ( December Expiry )
Yesterday close was 10849.80.
This is a minuscule up move of just 70 points. As flat as it could be. If we listen to the anchors on business channels all day, it appears that markets are doing great. These people are experts and concealing the facts and presenting the noise.
A 70 point move is just insignificant and let us ignore it and move on.
Coming back to our concerns we find that 20 days have already gone by and we have closed just one trade. I know there are readers who have actually booked more profit than the projected profit/loss in these pages. Congratulations to them.
It is still a good thing that with market direction not in favor of our trades and time doing nothing for us we are still keeping our head above water.
Profit has come down to Rs. 20000 from Rs. 45000. It is time to be alert and start booking profit so that we do not end up losers for another month after a losing December 2018.
We keep a watch on BHARATFORG which made a good down move yesterday. Similarly M&M which made new 52 week low and TATASTEEL which is trading near to 52 week low should be watched carefully/exited if we feel that it is reversing.
INFY is another one which is becoming directionless for past two days.
With 5 trading days left, a lot can still happen. We only hope it is good for us.
No additional trades for today.
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.