Another day of big gains for the banking stocks.

Such a day is supposed to be good for the kind of set up we have. Let us find out what actually happened over last two trading days.

On Saturday, Deepavali Moorat trading day, our set up had closed with a profit of Rs. 2186.

Monday was a holiday.

Position on Tuesday, November 17 was:

The big move yesterday helped in boosting it further.

Position on November 18:

This is the fourth set up in the series. We have already booked a good profit.

We would like to book about 70% of the initial credit ( Rs. 10100 approximately ) but it will not be easy if the stocks move lower from here. BANKNIFTY PUT 27000 is too far away now to be of any use as a hedging trade.

Action:

We close the trades around 9:30 am with whatever profit is realized.

Trades for December Series will be set up tomorrow.

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.