The first market holiday for the month is gone. We have had one trading day in the Series so far, took our two trades and both did not go well.
First we talk of NIFTY.
It did a good job of moving up and did it surely and steadily. Moved up 71 points.
A single day of up moves brings about the hope and tall claims.
This is from Moneycontrol today:
Article Source :
Let us see how things go today. Asia is down and so is SGX NIFTY. Whether the bullish candle remains bullish or turns bearish is to be seen during the day. Markets are so fickle that it is best to avoid making a guess about the direction.
Our Trades :
HEROMOTOCORP PU 2500 was bought at Rs. 33.35. By end of day, it traded for Rs. 25.50. A loss of Rs. 1570.
HINDPETRO PUT 210 was bought at Rs. 3.20. After our trade was done with, the stock price started moving up and was one of the top gainers among the NIFTY stocks. Gained more than 4% for the day. PUT 210 ended up at Rs. 2.20 . The loss in this trade is Rs. 2100.
That was the story of two trades.
New Trades for the Day :
I would avoid taking a trade today. Tried a few stocks for buying PUTS but they do not fit our criteria. There are some good candidates for CALLS but I would avoid them today in view of the market direction. Not taking a trade is also a good decision. It does not cause any loss.
So we stay with both the current trades.
Trade profitably, trade cautiously.
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
vishal agarwal March 5, 2019 at 9:05 am
Sir this is something new “There are some good candidates for CALLS but I would avoid them today in view of the market direction”
ReplyWhile focussing on individual strength or weakness we never took market direction into consideration while entering into trades. Please explain.
Thanks
VIP March 5, 2019 at 2:25 pm
Well, sometimes moneycontrol can have their day too.
ReplySamprati Jain March 5, 2019 at 4:20 pm
Where on earth are Hero Motors and HindPetro heading towards!! Man!!
Replyvishal agarwal March 5, 2019 at 5:24 pm
This is just start of expiry. Look at the bigger trend which started around Sept 2017 when Hero touched 4000. Since then its in downtrend. On many occasions in the past it has given sharp counter trend upmoves which ultimately got sold into. Only time will tell if indeed hero has reversed the trend. In that case we might consider buying a Call if stock could sustain the upmove for over a month. So just relax and watch the show.
ReplyYOGI March 5, 2019 at 5:45 pm
As per buy observation watch out on these calls for tomo .. Targets are mentioned to reduce the influence of time decay
BUY ICICIBANK MAR 360 CE at 10 n trgt 12
Replybuy AXISBANK MAR 740 CE AT 17 N TRGT 20
buy M&Mfin mar 440 ce at 12 n trgt 15
srinivas bale March 5, 2019 at 7:47 pm
sir ji, why this bull going up n up? can it touch 11200 march series?
Reply