NIFTY ended flat yesterday. BANKNIFTY was where the action was. It was on the down side.
Over last two days banking stocks are not doing well. That is normal. They had run up very high in the last week. Some profit booking at higher level is normal.
Our trades were showing a loss at close on Monday.
Getting back to profit depended on KOTAKBANK doing well and that is what exactly happened yesterday. KOTAKBANK was among the 2 gainers for the day.
It made a big difference to the positions.
From a loss of Rs. 1950 we are back to a profit of Rs. 2956.
It is all notional but gives a sense of comfort while waiting with the trades.
That is all we do today — waiting with the trades.
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.