Nothing went right yesterday. For one, my STT short positions were triggered when the nifty moved below 5546. Secondly, India won the toss but elected to field. Thirdly, they bowled badly and did not run through the English line up. Fourthly, there was a mock anti terrorist drill by the police in Powai. In an effort to be realistic they blocked the traffic for around 2 hrs.

So nothing went to plan. No Tendulkar masterclass and no rally in the Nifty. To top this, today promises to be worse. The STT short positions are almost certainly going to end in a loss. US was up and everybody wants to believe that something will be done in the Euro. So at least temporarily the Euro is up, the Dollar is down and Gold/Silver are down too. So naturally all other asset classes will be up and the last I heard Nifty is still considered as part of the other asset classes. It has still not been suspended for inflicting boredom on traders!

As of now, I am short on the STT. I will cut my short and go long above 5602                                                                             Current Position  STT: Short LTT: Long

Possible Trades

STT: cut short and go short > 5602

LTT: Cut long and go short < 5502