Yesterday was Tuesday in reverse.
On Tuesday we had NIFTY moving from a big up move into the negative zone.
Yesterday, we saw initial 80 point down move go away and NIFTY move up by 140 points. It gave up a good part of the gains but stayed in the green for the day.
It was only banking stocks and financials which did well. Automobile stocks too performed, God knows why?
The day was bad for our trades.
RELIANCE stayed where it was and CALL lost money. HDFC went up, we know what happens to a PUT option. ASIANPAINT PUT also lost out a bit.
The new trade in TECHM PUT 450 did no better and we are now looking at a small loss once again.
SGX NIFTY is down 100 points.
How that actually translates into the market behaviour today is to be seen.
We are in four trades now.
Looked for more trades but in view of high IV for most of the option trades, it is prudent to avoid adding more trades at this stage. Let us wait till Monday to add another trade.
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.