NIFTY moved higher and higher during the day in trading yesterday.
The move was solid and relentless. At one stage it was up by more than 105 points.
It ended at 10715.
I have said it many times that NIFTY is important but not very important. We can have NIFTY going higher but our stocks making new lows like HINDPETRO did last month.
What our selections do is that matters.
With 2 Calls and 5 Puts in the picture, we could have been terribly in minus yesterday. Fortunately it did not happen that way.
HINDUNILVR and M&M were up very decently and the Calls came good.
HINDUNILVER 1520 CALL enetered at Rs. 17.00 is now Rs. 26.00
M&M 900 CALL entered at Rs. 12.00 is now Rs. 16.55.
Let us look at the PUTS.
HINDPETRO made another 52 week low at 288.50.
Then came the news that the government may compensate Oil Marketing Companies for the current price rise in the Crude Oil Prices. It shot up to above Rs. 300. Settled at about Rs. 297. We can expect little more volatility till details are known about the extent of compensation.
HINDPETRO 290 PUT entered at 5.80 is now at 9.85.
BHEL 80 PUT entered at 0.55 is currently at Rs. 1.15.
TATAMOTORS 320 PUT bought for Rs. 4.50 is at Rs. 5.00.
UPL 680 PUT entered at Rs. 9.00 went wrong and is now at Rs. 4.90.
HCC 15 PUT entered yesterday at Rs. 0.50 ended the day at Rs. 0.45.
SBIN 230 PUT entered at Rs. 3.50 is now Rs. 2.80. Banks were up yesterday and we went from profit to loss in this case.
Out of 8 trades, 5 are doing fine.
I do not like to talk about Unrealized Profit /Loss in Option Trades because everything can change very suddenly.
However, these 8 trades show an unrealized profit of Rs. 13808 when 3 of them are currently wrong.
Not adding any more trades yet to the present list.
Let us see what the market holds for us today.
US markets were positive and so is all of Asia this morning. SGX NIFTY is up by about 25 points as I write. We should be looking forward to a mildly positive day.
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.