Expiry day highlights on 31st october


Today was a good and difficult expiry as things were very very volatile. Was able to make 84,000 profit both positionally and intraday.
The markets were on a bull run from a few days. now. In 2 weeks nifty has moved from 11100 to 11900. Everything was looking good and I was bullish in the morning. The Asian indices and SGX also suggested that we would open in green.
Today was monthly expiry and I did expect huge volatility. I did not trade in the first half an hour of market opening. I wanted the market to settle and take a particular direction. It was looking like a trending day and I knew that SENSEX was at a kissing distance at all-time high and I was sure that today they would touch all-time high as that is how the sentiment of the market is. At 10:00 am, I started buying huge quantities of nifty and banknifty. Also, I added huge hedges to my trade respectively. As expected, the markets went up and I was in good profit. At 11:30 am, where the spikes usually come, the markets started falling mildly. I also got a signal on my charts that markets can fall further. I got a bit scared and started closing the position which was in profit. But that was a false signal. At12:30, the markets again started to trend upwards. I again took positions aggressively on the long side. Then came a piece of major news that some investor is planning to invest 1,2 billion $ in yes bank. Yes bank shot up 25% in like half an hour and obviously banknifty shot 200 more points. But the game was not over. The last our trade was still in place. It was all over news that Sensex has hit all time high. I was expecting a retracement now. So I closed some of the critical positions and waited for the market to react in the last hour. Since there was a lot of drama of yes bank, I also had a feeling that last hour volatility may not happen. But, then the heavy weights like HDFC bank, ICICI started falling and nifty started falling. Good that I closed some of the positions. Nifty fell more than I expected and I had to close some of the positions in loss. But that was fine as I had booked a lot of profit initailly. Finally I ended the day with 85 thousand profit.

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