BANKNIFTY closed with gains on Friday.

The gains came later in the day. Our trades were closed much earlier and a loss was booked in the second set of July series.

The reason for exit was that HDFCBANK and KOTAKBANK had too much left to loose and nothing was left to be gained from ICICIBANK.

With both HDFCBANK and KOTAKBANK showing no positive momentum, it was decided to exit and take the loss.

After the exit, KOTAKBANK moved higher but not by much. ICICIBANK moved up very sharply but that would not have much difference.

Well, we did not have a good July series.

This was how the first set in the series was closed:

Combining both the sets, loss in July 2021 series comes to Rs. 9556.

This is fourth losing month out of 21 months of this strategy. We take it in our stride and move on to August series.

New Setup:

We go with the same 3 stocks.

Sell 1 lot of 2-3% out of money PUTS in all 3 of them.

Buy BANKNIFTY PUT about 5% out of money and that is it.

After that we leave it to the market.

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.