It is time to bite the bullet.
Time to close the trades with whatever loss the market is giving.
The positive move yesterday did not do much for our trades.
BANKNIFTY was positive but not strong. It trailed NIFTY throughout the day.
We needed strong performance from HDFCBANK and KOTAKBANK but both these stocks fizzled out after initial good show.
MTM position improved slightly but it still a big loss.
It was Rs. 23694 on Tuesday. Some relief but still a loss. It is a loss even after considering the profit booked in the first set of the series.
Well, it is Friday prior to the expiry week. That is when we close the trades.
SGX NIFTY is not giving any strong indications. Let us see which way it turns. We plan to exit around 11:30 am and set up for August series after that.
Some action 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.