NIFTY made yet another all time high yesterday. Not by much but a new high is a new high. After that it went into a slump.
Just when thoughts of a big decline were forming, upward move started and the day ended flat with a small loss.
For our trade setup, the day was not good. It was not very bad either. The big dampener was the performance by the financial stocks. There are 4 of them in these 10. All were losers on the day and sold PUTS gained in value.
The up move in INFY, HINDUNILVR and TCS took care of the loss to a considerable extent but could not cover it fully.
At close, the MTM profit was little short of previous day’s number.
We accept what the market gives and get ready for another day of waiting.
We stay lazy and do nothing, as always.
Trade cautiously, trade profitably.
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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.