For last few days we have been receiving may emails seeking trading tips. Let us clarify that we are not traders. We are investors. Though we prefer playing stocks that look attractive for short term. We also play positional ideas. These may not work all times. A case in point is the recent Abbott India call, where we were expecting a double-digit performance over just two sessions. We ended up on just 2%. Of course some of our followers thought that it was commendable.
We have bought an out of the money Nifty put 4400 September contract on Friday September 7, 2007 at Rs 61 but we exited on the same day at Rs 69. We preferred to that because we were unsure of Monday. Though the market has been weak today, we are of the opinion that the exit on Friday made our day better. Today the same call is quoting at around Rs 72. No big move despite weak markets, thanks to the two days elapsed in between.
We are however now buying selectively on weakness and will share something with you at the earliest possible.
You can get in touch with us on umcapitalindia@gmail.com
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