On Monday, NIFTY moved a lot to go nowhere.
Went down, went up and came down. Ended 20 points higher after being up by more than 70 points at some stage during the day.
On Tuesday, moved purposefully upward and again gave back some 20 points before close to end at 10614.
In two days, NIFTY moved up by about 50 points.
This should be a cause of concern for the SELL selections. But market never does what you expect it to do.
On Monday, our BUY selections did well for a while before TECHM squandered away all the gains of the day. INDUSIND stayed strong.
Tuesday was different story.
In fact the SELL selections did better despite the NIFTY up move. The BUY selections were not so strong.
We do not fight the markets and accept the reward or punishment for being right or wrong.
Let us have a look at the status:
All the 3 trades are still okay but nowhere as good as they were yesterday.
Not a pretty picture.
We are already out of LUPIN at 810. Saves from further loss.
The loss in other stocks except BAJAJAUTO has come down. SBIN and HINDPETRO are the profit makers.
Another two days to go and we shall have the complete picture.
In April month we have had 17 trading days so far and on 14 of these days NIFTY has ended up in the green. Out of the 3 losing days, one day was just (-) 1.25 points. There was a 9 day positive stretch. In such a situation, if the SELL part is not doing well, it is normal. But we see that somehow few of these trades are holding up. That indicates weakness in these particular stocks which can manifest itself over next month .
US Markets did not do well on Tuesday with NASDAQ down 1.7% and DJIA down 1.74%. For quite some time, our markets are not following the US trends. Will today be an exception again or is it finally time for a negative day. We shall know as the trading begins.
Signs from Asia too do not look positive. The situation at 7:30 am is as shown:
SGX NIFTY is down by about 60 points at this time. But we have seen that these trends can go wrong at times.
In line with the expected trend for the day, no changes are proposed in the selections already made.
We shall be looking for more opportunities for May 2018 Expiry in next few days.
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.