We planned to get some mangoes by throwing a few stones. It turned out that watchman was away. Nobody ran after us.
The result was good.
Easy pickings on the day. NIFTY fell sharply, banks more sharply and we had two PUT trades in banking stocks.
One of the readers has commented on yesterday’s post — Looks like that mangoes were waiting for the stones.
Well, the beginner’s luck helps at times.
One of the trades has gone wrong but then how much wrong can they go?
This was the position at the end of day.
ITC and HAVELLS trade were available in our price range. BANKBARODA too was traded at a low of Rs. 1.00 but considering the initial down move, it was bought at Rs. 1.10. For other two trades, a little extra amount had to be spent but it is very well within our budget of Rs. 20000.
Mark to market profit looks good but we know it is temporary.
The absent watchman will return today and run after us. We should still be able to hold one or two mangoes. This tussle will go on for a while.
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.