NIFTY closed 35 points higher.
Number of declining stock was more than the gaining stocks. The biggest contributor to the Index gain was INFY. Otherwise it would have been a flat day for NIFTY.
NIFTY gained the points it had lost on Friday. We are back to where we were just two days ago.
Such two way movements are never good for option buyers as we already know and found out once again.
Our positions took a little more beating.
It is GAIL and MARUTI which are keeping us above water so far. Profit booked in YESBANK has also a role in the picture not looking very bad. This is the nature of option buying. Few good trades to offset more bad trades. As long that keeps on happening we are fine.
Could not get out of MARUTI PUT 6300 and suffered for it. It was possible to exit at around Rs. 300. Kept on waiting for better price which never came about. Those who got out did well to do so. I am keeping this chart with the same trade for the present.
New Trade :
After making the 52 week high of 1340.90 on July 01. TITAN slumped to Rs. 1071.40 on July 11, 2019. Yesterday last price was Rs. 1088.
Such big falls happen with a reason and we have no way of knowing whether those reasons have gone away.
If the down trend persists, TITAN PUT 1060 @ Rs. 11.00- 12.00 can turn out to be a good trade. The trade meets our criteria of 30 day and 7 day weakness, Implied Volatility and volume. what it has to do now is to come right for us.
Lot Size — 750 Maximum risk — Rs. 9000.
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.
Saket July 16, 2019 at 11:53 am
Pramod-ji, wish you a very happy Guru Pournima! May your teachings create more and more successful students…Reply
Rajeev Kumar choudhary July 17, 2019 at 2:26 am
It will be helpful if that active list is also there with post.