Friday was a flat day for NIFTY and mildly negative for BANKNIFTY.
BANKNIFTY continues to be the weaker section of the market.
Out of our 3 stocks only HDFCBANK was slightly in the green whereas the other 2 were losers.
This is not good for our setup and the MTM profit came down from Rs. 4036 to Rs. 3900.
We had entered last week with a MTM loss of Rs. 11975 and closed the week with the above profit.
Looks like that we have to go through that kind of trouble again.
SGX NIFTY is showing a gap down open for the market as I write.
What actually happens will be known between 9:15 am to 3:30 pm.
We have been through such situations before and will see them again. It is very difficult to DO NOTHING but that is exactly what we will be doing.
Let the market decide whether to give us some profit or loss.
One set of profit is already booked, that should keep away the fears.
We go through the test today.
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.