Market showed signs of recovery but again gave up. Banking stocks were under pressure, this time the pressure was similar to the rest of the market. There was no special punishment for banks.
That made our trades do very well for the day.
One of the two gainers happened to be ICICIBANK. That also helps.
For those readers who believe that the strategy works only in gaining market, the last two days should clear that doubt. We have recovered from a loss of more than Rs. 7000 to a profit of Rs. 6000 in two days when BANKNIFTY has fallen 664 points and 227 points.
Direction does not matter. The stocks should do better than the index. As long as that happens, trades will do well.
It is good to be looking at a positive end of day statement. Let us hope it stays that way for some time.
We stay 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.