Iran Israel conflict boosting the bearish pressure on Nifty

On 2nd March the panic selling started right at the market open and continued until the last hour before some recovery was witnessed. Our position was already on the short side so this panic selling helped to almost double the unrealized profit in our account. However, the India Vix shot up by ~25% by the end of the day reducing the intraday profitability a lot.

At the closing point, the MHAF spreadsheet showed strong downtrend persisting. The method 1 (hypothetical, we are not actually following) now showing a stop loss point for the shorted futures at 25325 for the next trading session. However this value will change depending on the price action of that day but still comfortably away from the current price level.

Our upside break even cum reversal point still sits at 25854 which is almost 1000 points away. Hence we will be closely following the price action without much action and as soon the Vix comes down drastically and about 80-85% of the potential profit can be realized, we will close all positions for this month. Happy trading. Cheers.

Current position given below