Volatile market made me exit some of the positions and enter into new one. I hope we are bullish now as market again rejected downside with good momentum. I will finish delivery trading with minor profit. This is 5th week so even little profit is bonus for me.
I was regularly watching market but as market crossed 24850, I added some short position.
As market crossed 24950, and by the time I could get online market was already at 25100.
Profit would have been fine, but I am fine with whatever profit I can make. I was travelling and I knew the risks. I had to meet a broker for my trading requirements.
I reversed my positions and sold put with reverse hedge of 1:7 to 8.
As I said, this was fifth week so I am not in much pressure to risk and earn more.
Benefit with hedged position is that losses are bare minimum.
If we go up tomorrow, I will end up making a profit of 5000, which is better than making a loss.
If market goes little sideways, then also it will be no profit not loss.
Also, we have formed a HH, HL formation, so I am convinced that market has bottomed for now, so I am bullish now. I hope its not a fake break to upside now.
Here are my positions, order book and admin positions now -