For sixth day in a row NIFTY made an up move.
The fear of sub 10000 level apparently is gone. Market is making unsure type of moves everyday but finally going up. Moves look sector specific. Yesterday, it was all about IT sector.
NIFTY gained. So did BANK NIFTY. But the Midcap and small cap indices were in the negative. That tells us that the strength is not yet back.
I too have started talking like folks on TV. Market moves are not easy to comprehend, let alone explain. So let us just not attempt doing so.
Today is April 13, Friday.
What type of day it could turn out to be ?
Or
Either way, few trades will make money while few will surely go wrong. Good or bad days are all part of the game and we keep moving on.
Review of Thursday :
The day turned out well for our selections.
The BUY selections went up and barring on or two exceptions, SELL selections went down. Such kind of things happen very infrequently and we shall take such a day very gladly.
Buy Selections :
Sell Selections:
Though we are still in losing positions, the loss has come down considerably in the last two days.
We believe that these stocks will keep doing better. The position will be reviewed at the end of day.
Till then, we make no changes in our selection list.
SGX NIFTY as of now is indicating a flat opening. It was the same case yesterday but we ended up gaining 40 points in NIFTY.
So we either have Thank God It Is Friday or Friday The 13th.
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.
Comments
Ritesh Kumar Pamnani April 13, 2018 at 8:57 am
Sir, seriousness apart, both the pics depicting Friday moves are spot-on,, indeed its friday!
ReplyManu April 13, 2018 at 11:07 am
Sir,
Since the market movement was volatile on 11th April-2018, i took Axisbank 540 PE, but as of now it is totally down. Please suggest me what to do further ?
ReplyJatin April 13, 2018 at 11:29 am
Pramod Sir how do you maintain so calmness which were previously so difficult positions.In other thoughts day is turning out to be a TGIF 🙂
ReplySHISHIR CHAKRABORTY April 13, 2018 at 6:23 pm
Can anyone on thus noble forum explain me the role of open interest(OI) in options trading? Thanks
ReplyShankar April 13, 2018 at 8:17 pm
Sir, It would be good if you add Options as well (like what exact option you choose if you decide to trade options instead of Futures). Because when buying options, we get into profit only when spot moves past strike+premium. Premium is generally high at the start of the month and it becomes difficult to get into profit even if the trade goes in the right direction.
Replyadmin April 20, 2018 at 6:54 pm
Thanks for the comments.
Next month series will be about Options.
Reply