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.