NIFTY ended the day lower by 52 points.
A small lesson to be learnt. Do not get carried away by the talking heads on TV. They always show the bright side even when things are not bright. Talking about the bearish phase in the market is not glamorous. It is painful for most of the investors. So they keep talking positive even when stocks like BHARTI and TATAMOTORS have lost more than 40% and 60% value. YESBANK was Rs. 400 in August and now trades near Rs. 180 but no one cares to mention these facts.
That is market as presented by business channels. Deceptive presentation clothed in the language that means nothing.
It does not make us happy or sad. This is the way the market moves and you and me can not do anything about it.
This is the position of our 3 trades as of yesterday evening.
SBIN has gone wrong considerably while MARUTI is doing fine. M&M is a both way mover everyday. Let us see where does it take us.
It is hard to predict the markets on daily basis but trades have to be taken. The very high volatility currently present also restricts us to take more trades. The premiums are high and there is always that chance of losing the entire premium.
Again, I am not taking any fresh trades today.
We shall watch what these three trades do. There are 19 days still left after today for more trades in November.
Stay cautious, stay patient.
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.