It was anticipated that market will be slightly weak on Monday.

Nothing prepared us for what was to come.

The morning trend on SGX NIFTY and the pre open trades was positive. As the day went along, there was more and more selling and NIFTY had more than 300 points fall.

Our trades made up the loss considerably but are still away from being profitable.

Our comfort with these positions is going to be short lived. SGX NIFTY is indicating a bounce back of about 200 points. Let us see what actually happens.

If the market moves up, let us hope that RELIANCE is at the fore front and not any of the other stocks.

New Trade :

ADANIPORTS is strong over 30 days and just about stayed positive over 7 days ( after the 4.9% decline yesterday ). IV of options is below 50 and the volumes are decent.

We can consider ADANIPORTS CALL 310 @ Rs. 3.80-4.00 as a trade. The lot size is quite big at 2500. The maximum risk in the trade would be Rs. 10000.

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.