Yesterday was a good expiry day. I was able to make around 79 thousand profit. Markets were volatile for the entire session. Yesterday was a full event day session. We had the election result, SC judgement on the telcos. So I had planned my day well in advance. The plan was simple. It was not to trade until the volatility is settled. So I did not trade much till 11 am. I was slightly on the bearish view as we have had a wonderful run in the last few days and the election move was somewhat factored in. The exit polls suggested that BJP would win the majority in the Haryana as well. By the time markets opened, it was somewhat clear that the BJP would not get the full majority. So my bearish view got more strong. But I wanted confirmation on the charts and VIX to adjust so that I could place my trades. Markets fell till 11 and was sideways till 11:30. I had placed my orders and was waiting for the market to react. If there was any recovery, we should have had it. There was a slight pull back till 12:30, but the volumes and the momentum was not good enough for the pullback to sustain. I was expecting a major move in the second half. So I had bought nifty and banknifty straddle to adjust any massive move. At 1 the markets decided to take the downward. I closed the calls which I had bought and added more position to the downward side. By the end of the day, banknifty fell around 300 point and nifty fell 30-40 points and I ended the day with 79k profit.
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