This month is so far not very good. Though it was anticipated that for short term market will go up, I did not have many long positions and those were there I exited at small profit. Till this time my trading account is in loss this month. One can see attached link, hope it works.
Still about two weeks left and as no one can predict the market, we have to anticipate direction of the market. Hanging man pattern is formed on Friday, and it market opens below 6000 and continues to go down for next couple of days, then only reversal is confirmed.
Lot of negative factors are built in, except good monsoon. IIP and CPI data is not encouraging, some more macro data will be known by Tuesday. US dollar may again cross sentimental mark 60 as there is very strong support in 58.40/58.50 region.
Most of the events are nowadays are declared after market hours and market is experiencing either gap down of gap up opening very frequently. In last 12 trading days there were four substantial gap up openings and four gap down openings. Tomorrow could be yet another day of gap down opening, but market could recover during the day.
Earlier resistance of 5920-5950 could act as a support.
Reliance is showing strength. One should exit from 920 CALL sell option, if not booked profit earlier. Hold 960 CALL sell option.
TCS:
Buy TCS till Thursday, ie quarterly results day. It can cross 1700-1720.
So one way one can buy TCS 1620 CALL between 52.50-54. Maximum investment/risk is about 13000/-
To reduce the risk sell as many 1800 CALLs as you can. Or simply hold till TCS results on Thursday and then exit.
Another alternative and preferred one since our trading account is negative so far, is to sell OTM PUT. It is unlikely TCS will go below 1540 till this expiry. So sell 1540 PUT between 26-25. Your trading account will be credited by 7500/- tomorrow. One is safe in trend till TCS reaches 1515. Exit if TCS closes below 1515 on EOD basis.
There could be some profit booking in INFOSYS.
Sell 2750 INFY CALL between 80-85 and account will be credited by about Rs. 10000/-
If it closes below 2750 one will able to keep all Rs. 10000/-, if it goes above 2850 in cash exit at small loss.
SBI is in down trend.
Sell SBIN 1850 CALL between 68-72, again account will be credited by about Rs. 10000/-
One can also buy 1900 PUT at 50/-. Total credit balance will be about 2000-2500 and book profit near 1850 from both trades.
If you have any question, please write to me at ioptiontrade@gmail.com
One can see profit/loss account for this month in attached link.
https://docs.google.com/file/d/0B7ZW-6KNaQjsRThhX1lIcTFZMkU/edit?usp=sharing
Disclaimer: This blog does not take any responsibility of your profit/loss
Still about two weeks left and as no one can predict the market, we have to anticipate direction of the market. Hanging man pattern is formed on Friday, and it market opens below 6000 and continues to go down for next couple of days, then only reversal is confirmed.
Lot of negative factors are built in, except good monsoon. IIP and CPI data is not encouraging, some more macro data will be known by Tuesday. US dollar may again cross sentimental mark 60 as there is very strong support in 58.40/58.50 region.
Most of the events are nowadays are declared after market hours and market is experiencing either gap down of gap up opening very frequently. In last 12 trading days there were four substantial gap up openings and four gap down openings. Tomorrow could be yet another day of gap down opening, but market could recover during the day.
Earlier resistance of 5920-5950 could act as a support.
Reliance is showing strength. One should exit from 920 CALL sell option, if not booked profit earlier. Hold 960 CALL sell option.
TCS:
Buy TCS till Thursday, ie quarterly results day. It can cross 1700-1720.
So one way one can buy TCS 1620 CALL between 52.50-54. Maximum investment/risk is about 13000/-
To reduce the risk sell as many 1800 CALLs as you can. Or simply hold till TCS results on Thursday and then exit.
Another alternative and preferred one since our trading account is negative so far, is to sell OTM PUT. It is unlikely TCS will go below 1540 till this expiry. So sell 1540 PUT between 26-25. Your trading account will be credited by 7500/- tomorrow. One is safe in trend till TCS reaches 1515. Exit if TCS closes below 1515 on EOD basis.
There could be some profit booking in INFOSYS.
Sell 2750 INFY CALL between 80-85 and account will be credited by about Rs. 10000/-
If it closes below 2750 one will able to keep all Rs. 10000/-, if it goes above 2850 in cash exit at small loss.
SBI is in down trend.
Sell SBIN 1850 CALL between 68-72, again account will be credited by about Rs. 10000/-
One can also buy 1900 PUT at 50/-. Total credit balance will be about 2000-2500 and book profit near 1850 from both trades.
If you have any question, please write to me at ioptiontrade@gmail.com
One can see profit/loss account for this month in attached link.
https://docs.google.com/file/d/0B7ZW-6KNaQjsRThhX1lIcTFZMkU/edit?usp=sharing
Disclaimer: This blog does not take any responsibility of your profit/loss
No comments:
Post a Comment