Closed all the trades at breakeven, Nifty still consolidating

In this month series we were not following the standard rules of trading our MHAF strategy due to the mistake made as detailed in the previous blog post. We were somehow waiting for a moment to come where getting out of all the opened trades would not result into significant losses. From a shorter timeframe chart analysis, we felt that the short term trend was bullish and because we had a positive position delta, it was felt prudent to wait for Nifty to retouch the 23830-40 zone.

Yesterday Nifty gave that opportunity by retesting 23830 in the early morning session. We closed our positions at near breakeven despite the major mistake, gap down, slippage and extreme volatility during the month. This indicated the strength of this strategy to withstand major adverse situations that happen from time to time and make it extremely difficult to follow a strategy with 100% accuracy. With timely adjustments while containing the position delta to a minimal, we could contain the risk to some extent, but if the final adjustment didn't yield positive results, we could lose a large sum in this month series.

As can be seen above, after several trades during the month, the Nifty futures yielded a loss of Rs 39,000 which was compensated by all the short option trades we took. The chart posted above shows although Nifty has closed above the EBL/EBR bands and the MHAF candle formed is also a moderately strong green one, there is not enough visible strength in Nifty to become bullish yet.

Because the current May series is not over yet, we wouldn't be taking new trades anymore, however, the spreadsheet above indicated that a bullish trade was possible only if Nifty closed above 23790 yesterday. Therefore, the conclusion is Nifty is still in a consolidation mode with positive bias. We are waiting for the June series to begin from next week to spot a fresh trading opportunity.

Finally, it is also worth mentioning that since November 2025 from when we started following this strategy, we never have experienced a losing month which is quite impressive.

Cheers and happy trading