BANKNIFTY gave back a good part of Friday’s gain on Monday.
The gain on Friday was 984 points.
Our trades too gave back the MTM profit seen on Friday to one again move into losing zone. The main culprit being SBIN which is underperforming so far in the series.
It is bad to see a loss after being in profit but the basic principle of the strategy is to let the trades play out as per the market moves. That churning eventually works in our favour.
SGX NIFTY is indicating a big gap up today and we may see these trades turn around once again.
We do nothing and stay with the trades.