We have booked our profit and done for the month

Today Nifty took a U turn and started falling again because of the fresh uncertainty emerging on the war fronts. It opened at 24656 but the moment it tried to test the 24700 level, strong selling emerged and from that point the fall was continuous. The bears were in total control and despite a few up-move efforts they didn't allow Nifty to go back to the opening level again. The final hour brought more selling pressure due to the upcoming weekend.

Despite the sharp downmove our position didn't gain much due to the heavy spike in India Vix. It was consistently up and at the end of the day VIX closed at 11.3% higher. However, towards the very end of the day we saw the floating profit reached almost near to our 80% booking target. We closed the trades and booked a nice 1.14 L profit.

As per our strategy once we are done with the profit booking, we do nothing further during the month and wait for the new series to begin which will start from April 1st. In this month we deployed about 9 L as the margin money and made 1.12 L net profit (that too within less than 2 weeks) yielding an annualized gain of about 150%.

Although we will not take any more trades in the current month following our F&O strategy, the hypothetical Futures Only strategy we are tracking will continue to monitor and trade the Nifty futures virtually. The table above shows the short position initiated at 24580 is currently making a gain of 1035 points (huge isn't it?) with a stop loss target at 25006. This is comfortably away but will be trailed as we progress.

Happy trading, Happy weekend. Cheers. Please share and repost if you like this blog. Thanks.