NIFTY did absolutely nothing on Friday ( April 20, 2018 )
Flat as flat could be.
But there is more to the story than meets the eye. This was possible due to heavy weight IT stocks going through the roof on Friday.
Here is a look at top 5 gainers and losers:
Now the story sound different. If the IT sector was not so prominent, the day would surely ended in the red.
We had TECHM in our BUY selections. Good for us.
Our SELL selections also did not do badly on this day. HINDPETRO made new 52 week low again. SBIN dropped a bit more. RELCAPITAL also came down a bit and so did RPOWER.
The picture now does not look as bleak as it did a week ago.
Here is the status:
Though INDUSIND and NTPC gave back some of the gains, TECHM made a big move and we have 3 out of 3 right trades in the BUY selections.
The SELL selections look like this:
With RELCAPITAL giving just marginal gain, we are now right in 3 out of 9 selections.
There are big losses in VEDL, BHEL and LUPIN. Big gains are in HINDPETRO and SBIN.
With the Dow Jones and S&P falling on Friday, I expect NIFTY to give up few points on Monday and that should bring down the losses in the SELL selections.
Let us just stay with the same selections for Monday, April 23, 2018.
Thanks for reading.
Enjoy your Sunday.
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.