Today was a good expiry day. Was able to make 82 thousand profit. Tomorrow is the budget and we had a wonderful pre-budget rally. I had 12000 July straddle which I exited today with a wonderful profit.
If you had seen my morning blog, I did mention that nifty would be in the range and breaking 12000 was not easy.
As markets opened in the green, I added to my positions and I gradually increased the positions. The markets were dancing in the range where banknifty was in between 31500 to 31600. Nifty was in between 11960 to 11920. We had an economic survey where the chief economic advisor provided insight about the economic survey for tomorrow's budget. He suggested that private investment should grow to make India a 5 trillion dollar economy. The markets were still in the range and were inching towards 12000. But NCLAT judgement came in favour of Essar. The banknifty then fell around 150 points in 5 minutes. The premiums of the puts which I had increased significantly and the premium of the calls which I had, fell drastically. But there was no follow through in the fall and the fall was immediately bought and the markets ended in the flat note.
I had created call spread and put spread. I was adjusting the position when markets were in a panic.
Most of my weekly positional trades are also in green.
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