This is a copy of my newsletter sent to my subscribers on 01-June-2024. This was when General Elections 2024 were being held and the counting of the results was done on Tuesday – 4th of June 2024.
It is bizarre that India VIX ended at at 24.60 on Friday – 31st May 2024, and is likely to cross 25 on Monday – 3rd of June 2024 – but still, it is strange that the kind of volatility Nifty/Sensex should show is missing.
Nevertheless, you should be careful.
Here are a few things I have been telling you for the last few days which I am writing again to remind you so that you take action and save yourself from big trouble:
- Book partial profits in the stocks that are in good profit. you can of course re-entre after the 10th of June 2024.
- Reduce the lot size of your trading in options and futures.
- Put a stop loss in the system to manage the volatility. This broker allows for keeping a target or stopping loss in the trading system. Once one gets hit, the other gets cancelled automatically. Also, they do not charge any brokerage to buy or sell stocks.
- Do not over-trade the next week i.e. from the 3rd to the 7th of June 2024. Stock markets are known to be volatile for a few days after the results.
- Do not buy any stock if you see them going up – the lure of buying a stock when they are shooting up due to a speculative rally may backfire. They will soon come down when the people who bought early start selling and booking profits.
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