The first two trading weeks in 2023 are over.
Nifty had closed the year 2022 at 18106.30.
Yesterday, after 10 days the close was at 17956.60.
This is how the daily moves happened:
How to trade these type of moves?
The best way would be through NIFTY spreads as we are doing in our Nifty Spreads series.
Let us see, how the MTM position changed in that set of trades as Nifty moved from 18106.30 to 17858.20. I am not considering the yesterday’s position as the numbers are not yet ready.
MTM on December 30 was — 90.60 Points.
MTM on January 12 was —– 273.85 Points.
As Nifty went down from 18106 to 17858, this set of trades increased the gain by 183 points.
What else do we want from a simple strategy?
It actually works out best in a flat market scenario which has been the case so far in 2023.
Let us see how the rest of month goes.
Nifty can do only two things — go higher or lower. There is no need to worry on daily basis. Nifty is not under our control, our trades are. Let the focus stay on the trades and not on Nifty being up or down.
Enjoy the holidays.