Hi,
Another delayed entry. I have had no new trades. That made it pointless to log anything.
The NIFTY and INR-USD are falling in tandem. The fear of Tapering is making the Hot Money move from BRICs to US. So, the fall seems logical. RBI doesn't want to defend the Rupee because probably, it doesn't want to expend resources, fighting a economic reality. I guess, RBI can`t do much here. If it increases the interest rates, a deep recession is around the corner.
I have been keeping "the power dry". Low number of trades and averaging-in have helped me. As, a result, my portfolio fell about 0.06% when NIFTY fell 8.67% in the period 15th July to 18th August.
My Portfolio (at this time):
Symbol, Entry Price, %Gain, % of Portfolio
N100 197.50,
2.03%, 7.49%
CASH, 0.00,
0.00%, 92.51%
Explanation:
I bought some
N100s. NASDAQ is enjoying a strong up-trend. This should continue until BRICs become cheap enough again.
Also,
I sold off
NIFTY Aug 6300 CE at 0.75/- at a loss of -88.76%. The trade was based on RBI, defending the rupee. They didn't. Small position size kept the losses down. :annoyed:
Thanks for reading,
Amit