On Friday, BANKNIFTY closed at 43103.75 with a loss of 156.90 points.
BANKNIFTY going down does not hurt the trades much. It is when the fall is caused by our stocks, we face a trouble.
Yesterday was one such day when all the 3 stocks were in the red. Fall in ICICIBANK and HDFCBANK was more than the fall in BANKNIFTY. Such a situation is not good.
Position of trades at close on December 02:
Let us have a review of the last week as to how the trades performed on day to day basis as BANKNIFTY made a record high during the week.
|Date||BANKNIFTY Close||MTM Profit/Loss|
Not a great week as MTM has gone up by a small difference from 8294 to 9905. The disturbing fact being the comedown from 14386.
These moves are part and parcel of the strategy and we should not give them undue importance. There are ways to take care of these kind of situations but that would be too much trading. Our theme is to trust the strategy and DO NOTHING.
We stay with the trades and see where we stand next week.
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.