For the second day NIFTY moved up and the move was significant.
During the trading it went up to 10207 also showing good resilience.
But overnight signals from US Markets are not good. NASDAQ index went down almost 3%, DJIA and S&P by 1.43% and 1.73% respectively. Looks like that the trend reversal of last two days has fizzled out. Add to that the Expiry Day ( F&O Expiry is today ) and we may see lot of volatility today.
Let us have a look at SGX NIFTY and Asian Markets as of this morning.
We are looking at a gap down opening.
All the Asian Markets are in the red. So NIFTY should follow the same trend.
We do not know where the NIFTY will end today but the volatility is certain.
Review of Our Selections :
Bajaj Auto and Tata Motors stayed weak. NTPC and TECHM were positive in the BUY selections.
SBI and INDIABULHSGF gave up significant part of profits as did BOSCH.
You can not win them all.
It is planned to let all the trades run for the day and then exit from IndiaBulls Housing Finance as it no longer meets our selection parameters.
The review first:
Same as yesterday. We are out of RELIANCE already.
Slightly profitable. We stay with the trade.
Now coming to the SELL side:
The position still looks good though SBIN and MARUTI have given up a major chunk of profits. We watch the moves today.
From a good profit to almost evens, it is still a trade. As already mentioned, we quit this trade today at expiry with either a profit or loss.
Still doing okay. We remain in the trade.
No reason to quit. The trade stays.
These are volatile stocks by nature and move up and down significantly. Though a difficult choice to make, I would stay with the trades.
New Additions and Deletions :
We are letting go in case of Indiabulls and MARUTI at expiry.
The following trades will continue for April Expiry as well:
We are adding VEDANTA ( VEDL ) to this list from today.
That will make in 9 SELL SELECTIONS for April 2018.
In the BUY side, we stay with NTPC and TECHM.
Expiry day trades are not for the weak traders. Stay strong and cautious.
Have a nice trading day and then enjoy the long weekend.
Satish March 28, 2018 at 6:08 pm
Thanks Sir for the great update. Without closing March position, is it possible to shift to the April expiry ?Reply