NIFTY began the day with a BANG.
And ended it with a WHIMPER.
Finally, the index closed in the red for the day.
This was the story of market on September 29, the expiry day for Futures and Options contract for the series.
In September series, NIFTY has moved from 17522.45 on August 25, 2022 to 16818.10 on September 29, 2022, thus losing 704.35 points.
My short trades made a decent profit in September series but that is old news now.
We are already into October trades and yesterday was not good even while NIFTY was down. MTM is still on the profit side though it is lower than the profit on previous day.
BIOCON and TATAMOTORS were gainers yesterday. That caused the MTM to go down. UPL trade recovered some of the loss in Futures trades but it was not enough to counter the loss in two trades.
MINDTREE PUT 3100 did well to recover the loss and RBLBANK PUT 105 is still showing a small profit.
NIFTY 18000 PUT too is alright.
Other trades are hedged trades of Money In The Bank series and do not have much impact on the overall MTM position.
Status on September 29:
MTM has come down to 47757 from 65830 on Wednesday.
Well, this is how market behaves at times. Short trades not making money while NIFTY is falling also happens.
We look forward to the day.
SGX NIFTY at 7:30 AM:
It did not matter yesterday how SGX NIFTY was trading before the market opened.
It may not matter today as well.
For the record SGX NIFTY has made a smart recovery since it opened this morning and is now down just 34 points.
We see that Dow Jones and Nasdaq were down significantly. But Asia markets have come out of early lows and Hang Seng has turned into green already.
Let us wait and watch.
All the best to the readers.