Up, up and away.
That is how the markets went on Tuesday after a holiday on Monday. There were no half measures in the up move. It was with determined steps that NIFTY neared 11000 levels and may cross that summit today.
Once again markets have turned bullish and naturally our trades got hurt. It is alright to go wrong, no one can be right all the time, but when the stocks you thought should be going down move up by 4-6% in a day, the hurt is painful. The loss is swift. One can only take consolation from the fact that the maximum loss is already known and can not exceed that. Still a loss is a loss and is not a welcome guest.
It is early days yet and we have taken only 2 trades so far. There is no need for second thoughts or panic reactions. Such reversals in trading are normal and have to be dealt with. Emotions will not get us anywhere.
One of the readers has suggested the following trades: