On Friday, NIFTY relented a little in its up move and closed in the negative. Not by much though.
The market is still above 11000 and does not seem to be in a hurry to give up the grounds.
With NIFTY going down, our PUTS should have done well. They did not. HEROMOTOCO Went below 2700 for a split second, stayed low throughout the day but sprouted wings in the last 30 minutes to erase all the loss and closed positive.
YESBANK did it in reverse. It stayed positive throughout the day and then closed flat. Here we are in a CALL so again nothing for us.
Same story for HINDPETRO.
The new trade was taken in BIOCON PUT 580 at Rs. 8.00. This trade too did not go well for the day.
The summary for the week is not encouraging. 4 trades, none of them doing well. It is time that at least one of them moved where we want them to.
SGX NIFTY is indicating a slightly negative bias but we have seen that it actually serves no purpose. Markets have a mind of their own and it is hazardous to do the guesswork.
For the day, I am not suggesting any new trades. Let us be watchful about the current trades.
Trade cautiously, trade profitably.
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.
Apurv Adarsh March 11, 2019 at 10:15 am
Why aren’t you showing the loss in excel?Reply
admin March 11, 2019 at 10:26 am
Whether in Excel or otherwise, a loss is a loss. Can’t we understand what is our loss without putting it in a worksheet?
Gourav Basu March 11, 2019 at 12:05 pm
Yes bank call, biocon put reminds me of August month. Hope this month doesnt become another augustReply
admin March 11, 2019 at 12:18 pm
August 2018 was our first losing month after three months of profits. Remembering that month is always good. It was followed by September which gave wonderful returns. Option buyers do not make money is the market wisdom. To defy that would certainly need a lot of patience and ups and downs.
vishal agarwal March 11, 2019 at 3:53 pm
I would like to point to the top 10 gainers chart. Bharti Airtel is the top index gainer – 8% up. On past 365 days basis Airtel is down 16% while Nifty gained 9%. This reminds me of the fact that stock prices are indeed random. Suddenly deeming stocks like these as winners will be childish. And if we look at the stocks/Sectors that are rising the most in the current rally – PSUs, OMCs, Auto – well it speaks for itself about the quality of this up move. Such moves as Sir always say – usually fizzles out without prior notice. For traders like us who need the well-established stock trend to play out in a well defined time, to be able to make money, such random moves prove to be detrimental. So instead of getting affected by such occasional moves, we should wait it out patiently for tides to turn in our favour.Reply
Manikandan March 11, 2019 at 5:24 pm
HINDPETRO, both 30 days and 7 days trend looks positive. How about CALL sir ? (We already have PUT)Reply
srinivas bale March 11, 2019 at 6:00 pm
why nifty is going up and up?Reply