Last day of the September month brought cheer to the bulls, at least for the day.
As soon as the RBI announced the interest rate hike, BANKNIFTY fell sharply for about 2 minutes. Then it recovered and kept on moving higher and higher. There was no stopping the index except for taking a breather in the last 45 minutes or so.
The chart tells the story.
On such a day, our trades are supposed to do well and they did.
Position at close on September 30:
MTM is now at Rs. 8241 which is a big positive change from (-) 5616 on Thursday.
When market does something, our DOING NOTHING works out perfectly.
Hopefully, trades will perform still better in the days to follow.
This is month # 36 on this blog for this strategy. It is an important milestone and closing with a good profit for the series will give a boost to the overall results.
We take a good day gratefully and look forward to the action on Monday.
Enjoy the weekend.