Expiry day trade highlights

Today was a good expiry day. Was able to make 1+  lakh profit.

Morning nifty and banknifty opened negative. My analysis suggested that the indices would close in green. So traded accordingly with hedges.

The slight fall at 11:25 forced me to add more hedges. Bought some puts at that time. But the rally again resumed and had to close the puts in the slight loss.
The next fall came at 1 pm. By that time, most of my positions were in the green. So covered them and took fresh positions on the downside. Had shorted nifty and banknifty futures. But this trade did not give much profit. Had to close it at the breakeven point at 2pm. By then, I was sure that nifty and banknifty rally was here to stay. So bought a few lots of nifty and banknifty. Also bought CE options. Finally, it was paid off.

This level of short covering was needed to scare the bears. The huge short covering made nifty close above 11800 and banknifty to close above 30700.

I covered my yes bank trades in loss yesterday and today it goes up by 9%. This is what happens when you don't have conviction. Anyway, it was a good lesson which I learn.

Last 10 min belonged to Jet Airways. It took off and closed with 100+% intraday. You read it right. It doubled in a day. Some news came and it started its rally.  I somehow had anticipated that the Indian government would provide some stimulus to the company as aviation was in a bad shape in India and Kingfisher had already gone bankrupt. But did not invest any in that. Should have invested at least some part of my money.