Moorat trading followed by a holiday has kept us idle for too long.
Again it is one day of trading and the weekend is upon us. In the meanwhile mid term polls have concluded in the USA with no tangible difference likely in the governance. Markets have already done the act of going up and coming back to normal. Let us see how the day unfolds for us.
On Deepavali day, everything was goodie goodie. There were 48 gainers and only 2 losers among NIFTY stocks. Maybe it was the festive occasion or a sign of things to come. NIFTY closed very near to 10600 mark.
We got one more trade in position. INDUSINDBK PUT 1400 at Rs. 22.00.
With every stock gaining mildly, the day ended up as another losing day for us.
Now we have enough on our plate to worry about if things go wrong. If there is a down move in one or two of them, this month too may work out well.
One of the readers had written about changing strategies midway or buying CALLS instead of PUTS to improve our position. My viewpoint remains that we have entered the trades based on weakness. Maybe it is not working out presently. We need to enter new trades again based on the same logic. We shall be in deep trouble with a large number of trades if the trend stays against us. We have seen how TITAN CALL 9000000 behaved. Anything can go wrong. Let us give some time to market to prove us right.
It has happened earlier and it will happen again. We keep doing our part of work.
Asia Markets are negative this morning. US markets ended flat last night with Nasdaq closing mildly negative. SGX NIFTY is down about 25 points as I write. Most of these signals fail as the day progresses but we may see a slight negative opening for the trades today.
For the day, we do not enter new trades.
We shall review over the weekend and look forward to the full 5 days of trading in the next week.
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.