Yesterday was an humdinger of a day.
It added substance to our belief that anything can happen in the market.
See the chart for the day for BANKNIFTY.
Banking stocks were under pressure as the matter of interest on loan moratorium was to be heard in the Supreme Court.
Hearing is now adjourned to November 02, 2020 and more details have been asked from the government. So nothing actually changed about the case but market acted as if banks suddenly came into a lot of free money.
We shall see whether there is some reversal today or the up move continues.
For the day our trades went better.
Two of the stocks have already delivered a significant percentage of profit out of the initial credit amount. The remaining part will take some time. We stay with the trades and let the market decide.
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.