The trading journey for the month of September comes to an end today. The September month will continue for three more days after today but as far as trades are concerned the month is over today.
But is is not over till it is over.
The day can be really exciting. If it moves in our direction a lot of money can be made. If goes wrong, the loss can be significant. We have to do the balancing act throughout the day.
Yesterday after opening higher, NIFTY gave up the gains and moved lower. After few both way moves it ended almost flat.
For us, only TATAMOTORS did well for the day. SUNTV too was better than the previous day. ZEEL remained almost where it was.
BHARTI and HINDPETRO PUTS went down in price and PNB was almost constant.
On the whole a day without major gain or loss.
The Challenge Today:
The challenge today is to retain this profit. We have to look for more while taking care to see that we do not give back the profit already seen. If the trend remains negative, it is not going to be difficult. Problem arises if the market moves up. The day will test our skills as traders.
We know the methods. Today, the preferred mode may be to take profitable exits. If some stock is falling sharply we may wait for a while.
For In The Money Options, consider STT also.
Expiry Day Trade:
PUT 260 at around Rs. 1.00-1.20 ( Lot Size 1700 ) could be rewarding. The stock made a new 52 week low yesterday. If it goes lower than that today, the return could be good.
PUT 310 for around Rs. 2.50-3.00. If the stock goes down, it may breach the previous low of Rs. 302.60.
These are the two trades for the Expiry Day. If they work out, it is fine. Otherwise, the loss is not big.
Trade cautiously, trade profitably.
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.