When the last post was written two days ago, NIFTY was 10094.
It made an up move over last two days. At one point it was very strong yesterday and made a high of 10227.30. The momentum could not be sustained and most of the gains were given up and it moved to a low of 10132.95 before ending the day at 10155.
I do not know what to make out of this, but one thing is sure, the volatility is really high.
How to tackle volatility would be the theme of some other article, for the present we stay with our review of selections.
BUY SELECTIONS :
I had written on March 20 morning that we exit from RELIANCE if it goes below 890 ( Futures ). Well, it did go below this and the low was Rs. 888.75 on March 20. Bad for us, but a decision is a decision. This has been a losing trade.
Same for KOTAKBANK. It had shown strength when the decision was made. But did not stay strong when the market went down. It also went below 1045 and we accept that this was also a wrong selection.
Life moves on.
RELIANE has moved up to 900 after we are out at 890. There is no point in crying over split milk.
TECHM is still right but not by much.
KOTAKBANK has also done well after hurting us.
SELL SELECTIONS :
Let us have a look at the first 5 selections:
Even on a strong day ( March 21, 2018 ), TATAMOTORS once again touched 52 week low.
MARUTI has been recovering very strongly over last 2 days, but the trade has not gone wrong yet.
All the 5 are in profit though I would hesitate to list MARUTI as profitable at this point of time.
Then there is IndiaBulls Hosing Finance. This stock also recovered very smartly yesterday which was bad for our trade.
But we take bad with the good. The trade is still profitable.
BOSCH had not done well for us initially. Then it made a 52 week low on March 19. Went up next day only to give up the gains yesterday. It is still a good trade, till it goes bad.
Now we come to the last selection BHEL.
It stays weak and that works for us.
Two selections went wrong and we are out of those trades now.
9 are doing fine.
We stay with these 9 selections.
New Selection :
NTPC has been doing very well over last 7 days and is a gainer over last 30 days when the NIFTY has fallen.
That tells us that the stock is strong.
Let us add NTPC to our BUY list at a price of around Rs. 170 ( Futures ).
Our exercise done, let us sit back and watch how the day pans out.
Futures and Options Workshop at Mumbai on April 01, 2018 :
The venue for the program has been decided.
There are 10 days left.
The content has undergone lot of changes since the first session at Bangalore on January 21, 2018.
We had budget and the subsequent big fall in NIFTY. How to stay profitable through the topsy turvy market is the theme of these workshops.
If you are yet to make up your mind about attending, now is the time to do so.
Here is the link :
Ravin March 22, 2018 at 10:12 am
It is nice sir, once we decide to exit means exit. Now when to decide about profit booking? At this point, we are in loos by exit from two losing trade.Reply
Shankar March 22, 2018 at 11:12 am
Sir, How do you decide on when to get out? While KOTAKBANK and RELIANCE were going against the selections, you had stuck with them and decided to go out if it breaches a certain value (1045 for KOTAKBANK and 890 for RELIANCE). Keeping an appropriate stop loss is one of my primary concerns as many times I end up keeping a tight stop loss and exit with a loss only to see the tide turn afterwardsReply
Venkat March 22, 2018 at 11:30 am
AMBUJACEM is looking Weak.. I think we should add to SELL list ..Reply
Tarun March 23, 2018 at 2:08 am
@Venkat: AMBUJACEM is close to hitting a new 52 week low.Reply
Venkat March 23, 2018 at 8:57 am
Yes Tarun… I have taken 230PUT yesterday .. Lets se…Reply