NIFTY was very volatile yesterday in a narrow range.
Such ranges are difficult to trade on a day trade basis. Even positional trades look wrong at some points. Ultimately NIFTY ended flat.
But there is more to it than meets the eye.
Our selection added yesterday on the BUY side, KOTAKBANK went wrong.
Except MARUTI all the other SELL selections went up thereby either causing a loss or reduction in the profit. But no one expects all the trades to go smoothly all the time. A few hiccups are par for the course.
I looked at the NIFTY 50 stocks once again today for finding any fresh trade. Did not get conviction for initiating any trade. So we stay with the existing ones and let the market do whatever it does. We take good with the bad.
As I write, SGX NIFTY is showing a cut of about 43 points.
With US markets ending in the red overnight and Asia also being down, we may also be in for a decline today. Hopefully, the SELL selections will do better today.
Participation By Readers:
I am glad that some of the readers are keenly reading this series and doing their own analysis.
There is a comment on yesterday’s article asking why HINDALCO is not included in the SELL selections.
I have not added it because I have not yet studied the price movement of this stock for quite some time. You may add it to your list if it is working out for you.
Purpose of the series is to let the readers do it themselves.