NIFTY made another record high at 17792.95.

17800 was just a few points away and looked likely. That was not to be. The index dropped like a stone and made a low of 17537.65.

255 points were gone.

Some recovery towards the close saw the index move back to 17585.15.

Our setup went through the crazy day without much trouble.

At the end of day, the position was alright.

The real test will come today if NIFTY moves down seriously as indicated by SGX NIFTY at 7 am — down 125 points.

We may have to give back some of the profit taken over last week.

That is how the market works.

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.