Yesterday was once again very volatile.
NIFTY moved lower, moved higher, closed almost flat.
It was two different markets in play. BANKNIFTY was up 4.15% while IT index was down 0.88%. The stock with the highest weight in the index, RELIANCE was down 8.69%.
Even with RELIANCE down so much, NIFTY managed to end up higher by 26.75 points.
With all these divergent moves happening, the day was not too good for our set of trades.
The position at the close on November 02, 2020 was like this:
Not good but we have been there before. Let the trades take their time.
We stay with the trades.
Trade cautiously, trade profitably.
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.