Markets ended dramatically on 13-Mar with high volatile day swinging almost 20+% but if thats not enough, the week starting 16-Mar is full of drama swings and pessimisum.
Monday(16-Mar), Markets opened in high note but did not last long. it continued its downward journey lossing all its gains and closed in negative.
Tuesday saw closed - 2.2% Negative, Wednesday closed - 5.4% .
Thrusday broke the 13-Mar low cutting - 7.3% but recovered and ended with -2.7%.
Friday(20-Mar) was one of the best +ve days ending with +5.6%,
Overall for the week , NIFTY ended with 832 points cut lossing almost - 8.7%. it eroded 13 Lakh Crores from the indian Markets.
Friday(20-Mar) was one of the best +ve days ending with +5.6%,
Overall for the week , NIFTY ended with 832 points cut lossing almost - 8.7%. it eroded 13 Lakh Crores from the indian Markets.
| Date | Open | High | Low | Close | Settle Price | Contracts | Turnover (in lacs) | OI |
|---|---|---|---|---|---|---|---|---|
| 8234.90 | 8854.60 | 8130.10 | 8723.10 | 8723.10 | 524448 | 3351763.73 | 14411475 | |
| 8111.05 | 8531.00 | 7816.45 | 8205.90 | 8205.90 | 551142 | 3377112.55 | 14296050 | |
| 9040.70 | 9070.90 | 8380.05 | 8433.70 | 8433.70 | 380230 | 2468687.03 | 15173250 | |
| 9224.95 | 9357.80 | 8851.30 | 8915.60 | 8915.60 | 396021 | 2716116.28 | 15864600 | |
| 9514.40 | 9570.15 | 9055.00 | 9118.45 | 9118.45 | 391714 | 2732558.70 | 16982700 |
Mostly traded with Bear Spreads and Bull Spreads which was largely providing good results providing small profits. Gained 30-40 points in all trades eventhough on paper they are 70-90 points , trading is not easy in Options due to high VIX( gap between ask and bid is 10 to 15 points while normally it's less than 1,). We will loss easily 20 to 30 points if you square off using Market.
Very good learning in terms trading using Spread though as it determines max loss and profit so pressure.
Friday was a bad day mainly due to Future trading. Eventhough its costed some money but it cleared the feeling of missing out this large moves. ( proving again that making money even in large one side move is not easy).
Spotted the nice trade of long at 8560 , placed the order and cancelled but it would have given easy 300 points .. THEN tried my luck via BANKNIFTY, brought at 20200 which hit my small SL of 60 points then moving to 21000.. Should have closed the trading for the day but tried to chase the market resulting in 300 points loss in BANKNIFTY .. Similar trade with NIFTY 9100 CE which resulted in 15 points loss. Sometimes the Spread gain looks so small but they are safe and dont burn your fingers.
It was existing time in market eventhough the reason for volatility is scary, painful and depressing. COVID-19 is huge mental draining VIRUS more than the VIRUS itself .. Hope we come out of this pandemic soon and go back to those beautiful normal days.
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