Did not trade anything this morning, just watched and stayed away.
The market conditions are bearish and when I tried to short intraday, HDFC notified that no intraday trading is allowed today. I guess, they want the market to go up for Diwali.
I thought fine, then tried to take short position in Pantaloon Retail at 199.9 interday (delivery) but seems I have only cash account at the moment and cant short.
When the markets open next time, there will be a selloff and I dont want to take a position to the long side with delivery. So, I did not trade.
United Spirits did not show much movement today. It probably wants to go up but world markets are showing bearish tone and hard to go against the tide. Will be watching it closely next time. 34% move is exponential and there will be an opportunity to profit from the fall but timing is the key.
The market conditions are bearish and when I tried to short intraday, HDFC notified that no intraday trading is allowed today. I guess, they want the market to go up for Diwali.
I thought fine, then tried to take short position in Pantaloon Retail at 199.9 interday (delivery) but seems I have only cash account at the moment and cant short.
When the markets open next time, there will be a selloff and I dont want to take a position to the long side with delivery. So, I did not trade.
United Spirits did not show much movement today. It probably wants to go up but world markets are showing bearish tone and hard to go against the tide. Will be watching it closely next time. 34% move is exponential and there will be an opportunity to profit from the fall but timing is the key.