Yesterday the market was in a very uncertain mood but with a negative bias.
This is how NIFTY performed for the day.
Volatile but within a range. Such moves spoil the option buying trades.
Our trades behaved in a real surprising manner.
The trend for the day was negative but our trades became profitable because of the single CALL trade we have in RELIANCE.
PUT trades in HDFC, ASIANPAINT and TECHM gave us nothing in spite of market being down.
ASIANPAINT PUT 1600 had moved to a high of Rs. 108.00 but the stock price recovered from a low of Rs. 1545 to near Rs. 1600 and premium came down to Rs. 71.00. Let us see how things pan out today for this trade.
This is the current status of the trades:
Some relief. But we need more than relief.
Market is doing a seesaw act, going down and coming back up on a regular basis. Today the likelihood is of moving up as indicated by SGX NIFTY. Let us hope that the trade in RELIANCE keeps us above water in such a situation.
Once again, we do not take any new trade today.
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.