Post Market Summary:
- The market closes near the day’s high, with frontline indices each gaining nearly 1%.
- More than 40 Nifty stocks end the day higher.
- Market Rises Despite RBI Revising Growth Forecast Lower & Inflation Estimate Higher
- Market Breadth In favour Of Advances, advance-Decline Ratio At 2:1
- Nifty gains for the second week in a row to post its highest weekly close since January 16th, with over 75 percent of stocks gaining.
- The Nifty Metal gains more than 4% to post its highest weekly close ever.
- The top index gainers were GRASIM, ITC, SBILIFE, JSWSTEEL and ADANIPORTS.
- The top Nifty50 losers were CIPLA, TECHM, MARUTI, NTPC and HCLTECH.
- FII sold for Rs. 575.04 crore today and DII sold for Rs. 16.51 crore.
Trades Update 08.04.2022
I didn’t trade intraday today, but I did take one positional trade.
This has been discussed in positional trade 4.
My Old Positional Trades(Update):
I sold the NIFTY DEC 2022 17500 CE for Rs. 1050 and the NIFTY DEC 2022 17500 PE for Rs. 1295.
This straddle was taken about 30 days ago.
Today, it has an MTM profit of Rs. 9,338.
This trade was displaying a 12K profit in the morning when I decided to book profit.
Later, it was decided to wait a few more days to capture more.
The indices have been extremely volatile this year.
I believe the market will fluctuate but will close around 18000 at the end of the year.
But who knows what will happen.
This trade Profits may potentially vanish in the coming days.
Let’s wait and see how much profit I can make in this trade.
Sold BANKNIFTY APRIL 38500 STRADDLE on 04-04-2022
SOLD BANKNIFTY APRIL 38500 CE = 855.90
SOLD BANKNIFTY APRIL 38500 PE = 1073.75
Today, it has an MTM profit of Rs. 7,785.
Sold BANKNIFTY 13th APRIL 38300 STRADDLE on 04-04-2022
SOLD BANKNIFTY 13th APRIL 38300 CE = 596.20
SOLD BANKNIFTY 13th APRIL 38300 PE = 647.55
Today, it has an MTM profit of Rs. 10,761.
This straddle is in good profit, but I have yet to book profits.
I generally used to wait until expiry or 1-2 days before expiry to book profits or, if needed I make adjustments or book loss.
This trade may also wipe out my running profit in the coming days.
But none of this matters to me.
I believe the rules must be followed.
I’ll book profit in this trade if the market opens with a gap up or flat on Monday morning.
Let’s see how things turn out on Monday.
Sold BANKNIFTY 21st APRIL 37500 STRADDLE.
SOLD BANKNIFTY 21st APRIL 37500 CE = 761.05
SOLD BANKNIFTY 21st APRIL 37500 PE = 573.10
Today, it has an MTM profit of Rs. 182.
At 11:52 a.m., I sold this straddle.
Normally, I sell at 10 a.m., but due to the RBI’s policy today, I did not do so.
If have done it, then the profits will be around Rs 3000.
But who knows what might happen before that.
The risk would have been greater if it had been done before 10 a.m.
As a result, when we seek a high reward, we must also accept a high risk.
Let’s see how it does in the next days.
Positional Trades Total MTM Profit/Loss (08-04-2022):
04 positional trades are currently active, with an MTM profit of Rs. 28,065.
Hope you enjoyed the article.
Disclaimer: This article and trades shared here are for educational purposes only and should not be considered as financial advice or a recommendation of any kind. I am not advising any trading or investment ideas. Therefore, I, don't bear any responsibility for any trading losses you might incur as a result of using this learning/data/indicators/charting platform. One is free to choose whether or not to follow the learnings, and create a position in the market at his/her own risk. Index market trading involves considerable risk and can result from the loss of your invested capital. Always consult a Sebi Registered financial advisor and do your research before trading or investing in any market!