Help me with your opinions

[shiyan]

Hello Members,
I am new to trading & my enthusiasm took me to derivative trading very early & i am into a small trouble.

I have 4 lots of Nifty put option, Strike price 7400. Have purchased them when market was not that bullish as it is now. Purchased them at 100 Premium. Now its trading at 35 around.

Can someone suggest me how do i get out of this.
Thanks in advance.:thumb:

 

[shiyan]

Hello,

I am thinking of purchasing some more lots at a price of around Rs.20 which will bring down my avg price to around Rs.55.
Then I will wait for the market to give me a chance to square off all my positions at fair amount.

shall I go ahead with this and invest more to reduce my losses or the market is too bullish for this...?

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[manojborle]

Market is bullish, weakness only below 7485 and if it goes below it target will be 7303. This is my personal view and I would suggest you must not average your position in any case.
So basically if You don't average and nifty goes to 7303 you can exit with a loss of 3 rs which is not that bad.