BANKNIFTY was the hero yesterday gaining 2.15% while NIFTY was absolutely flat.
ICICIBANK was the SUPERHERO. This stock was up 11.52% on the day.
On the other hand, HDFCBANK and KOTAKBANK were both losers.
This is how luck plays a role in the strategy. Had we kept AXISBANK in the setup like in October series, the MTM profit would have been wonderful as that stock also gained handsomely.
We manage with what we have and at close our trades were in a good position.
Any Action based on ICICIBANK move?:
Many readers asked a question yesterday whether we move the strike upward in view of 740 being too far away now.
Normally, we do not change strikes frequently.
In the past we have done that when a stock moved up by more than 15%. We do nothing at this stage and will review the situation at the end of day.
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.