Expiry day highlights

Today was a good expiry. I was able to make a profit of 60 thousand odd profit. It was a tough expiry for me.even though there was not much huge volatility in the market. At one point I thought that I had to close my positions in loss, but I stuck to my decision. Sometimes you need to have a strong conviction and guts that markets will turn in your favour.

I got a signal in my chart that markets were going to fall. So yesterday, I had some short positions in nifty futures and banknifty futures. At the end of the yesterday, I was in the profit of 27 points in nifty and 80 points in banknifty. I decided to carry it for today. It was a naked position which I had with no hedging as the volumes were very small. But Trump tweet changed everything. Yesterday, he told that he would delay the tariffs on China. The global markets cheered the news and today morning even we had to cheer. Unfortunately today I did not get the margins which I used to get before.

Nifty opened in the green and banknifty also opened in green. It looked like a trending day and my future positions were in mild loss. So I did some aggressive adjustments in the options. And as usual, I also deployed some in the expiry trades. But things changed at 10 AM. The market suddenly turned bearish and the adjustment which I had done for protecting my futures were at risk but my future positions were turning into profit. The markets started falling and broke the day's open. I took bearish view now and took positions on the negative side.
By now the volumes were so much that I got confused. I had future short positions. I took bullish positions in options. I took counter positions for these options when the market turned bearish. At this point I did not know if I wanted markets to go up or down. I relaxed for some time and closed some of the option positions so that I was clear in things. It was expiry and at 11:30 the market again turned bullish and by 1:30 banknifty was almost at the high point of the day. I did not turn bullish as I was waiting for nifty to break the day's high which did not happen. As expected, the markets were bearish and started falling rapidly. By now I had deployed most of my funds and nifty closed in red and banknifty gave all its gains. I am still carrying my future positions for tomorrow. So by the end of the day I had a profit of 61 odd thousand.