We have seen 10 positive days out of 11 for NIFTY.
Markets are inching up surely and steadily. Are we going to see a new high soon or will stumble hard from here to give back these gains?
No one knows the answer but every one has a right to guess. Your profits or losses depend on this assessment.
We have already seen how wonderful the profits can be when we make the right judgement.
And we are seeing how tough the life becomes when the judgement goes wrong.
Like it did in case of VEDL ( Vedanta ) yesterday.
But it was almost made by another stock HINDPETRO which once again made another 52 week low yesterday. The loss in VEDL gets compensated by HINDPETRO.
Not a very good situation with our selections but it could have been worse. RPOWER moved up suddenly and then came down equally fast in last half hour of trading. TATAPOWER is also moving down slightly everyday reducing some of the loss.
Many traders find it difficult to wait and watch and let the market do its own thing. Patience is an art which is a trader’s very good friend. One should learn to stay in the trade patiently.
Let us have a look at the positions as of close of market on April 19, 2018.
INDISINDBANK went down after the results but for us the trade is still positive. All the three trades are doing okay, so we stay with them.
The problem is on the SELL side.
We have a very good trade in HINDPETRO and a very bad one in VEDL.
Among others only SBIN is indicating some profit whereas all others are showing negative results.
We selected these stocks because they were showing signs of weakness. With the strength in the overall market, these stocks too have moved up. That happens.
There is still time left to expiry of April contracts and we can always move to next month contracts.
Again the decision is to stay with all of these trades.
The review shall be done over the weekend.
Trade wisely, 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.