NIFTY was down just 21 points for the day.
It had gone down by about 48-50 points at one stage and then recovered to go up by 30 points. Could not sustain that and gave up all the gains.
For our trades mentioned in earlier posts the day was a mixed one.
CALL in HINDUNLVER went bad and gave up all the gains of yesterday.
I had suggested M&M 900 CALL at Rs. 9.50 a day earlier but that was not a possible trade. Again we made a decision to get it at Rs. 12.00. It could be possible yesterday but after touching the 52 week high, M&M went down and down and the PUT ended up in a loss. We could have bought at Rs. 9.50 instead of Rs. 12.00. But that happens and we can not do anything about it.
It was possible to buy SBIN 230 PUT at Rs. 3.50.
TATAMOTORS could have been much lower but we do not initiate a trade outside the range. We take it that the trade was initiated at Rs. 4.50.
BHEL 80 PUT stayed in a range and was an easy trade at Rs. 0.55. Which way it goes from here is another story.
ICICIBANK 270 PUT was suggested in a range of Rs. 5.30 to Rs. 5.70. It stayed above Rs. 6.00 throughout the day and we miss out a good trade.
HINDPETRO trade did well for the day.
Here is the summary :
Irony is that CALLS lost out on a day when both the stocks made fresh 52 week high.
Asian Markets are all in the red as of this morning.
SGX NIFTY is trading down by about 44 points.
It looks like that the present trades shall do well today.
We stay with them for the present.
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.