Back to trading after the weekend,
Friday was a nowhere day. NIFTY went down initially and then recovered the entire loss to close positive by less than 10 points.
In the NIFTY stocks there were 20 gainers and 30 losers.
Sign of an undecided market.
From our stocks, BHEL and VEDL moved lower.
UPL went wrong and BHARTIAIRTEL recovered after staying at lower levels for most of the day.
IDEA was the new selection added which went right nicely. As it was posted in a different article than this particular series, some of the readers might have missed it.
We are now left with 9 trading days.
We need some quick moves in our selected stocks to get into the safe zone and then move towards profitability. These 9 days are going to be uneasy and unnerving. We shall need all our wits around us to stay alert in this period.
Here is the status as on Friday ( 15 June) :
One of the readers has selected Jain Irrigation Systems ( JISLJALEQS) for shorting and asked how it can be traded through PUTS.
It had reversed from Rs. 96.65 few days ago. Close on June 15 was Rs. 97.35.
Can move down if the weakness persists in the market.
PUT 95 at around Rs. 2.00 ( Lot Size= 9000 ) can be bought.
As I have never traded this stock nor studied its movement in the past, I will not take a trade or suggest one.
But if you have studied the price patterns , it is a trade.
I will stay with the 12 trades already listed in the chart above.
With Expiry of contracts approaching, handling these 12 is going to be tough.
All the best for the trades on Monday.
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.