Friday, September 17 was a volatile trading day.
More so in banking stocks.
The picture tells the story better than words.
Our trades were doing well initially, gave back a little and worked out fine as the day closed.
We needed HDFCBANK to move higher. That happened in the last 30 minutes of the day.
The position at close:
We are facing a tough and interesting day ahead.
With negative indications from SGX NIFTY, we do not know which way the trades will go.
Will the weakness come from IT sector ot banks?
Will RELIANCE make the index go down or FMCG stocks?
We just need that banks should not fall much, specially HDFCBANK.
We brace ourselves for the difficult ride for the day.
We stay with the trades.
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.