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.