Market is still in corrective mode. If it follows technical pattern then NIFTY should go down up to 5530 before expiry.
I am holding my 5600 PUT.
On stocks:
There is still merit in continuing long in AMBUJACEM. But better to exit if it goes below Friday's low.
Buy TCS only if it goes above 1306 in cash. It should go up by to 1335-1338.
OR
Bull spread strategy on TCS
BUY 1300 CALL @ 22 and SELL 1350 CALL @9. Maximum profit could be around Rs. 9000, if it closes above 1350 or maximum loss could be Rs. 3500 if it did not reach the target. Very favorable risk reward ratio.
Buy ONGC only if it goes above 280.2 in cash. It should touch 284 tomorrow.
However, it is more safe to stay overall bearish in this market for next couple of days at least. PCR has gone below 1.0 and this is not good signal for bulls.
I am holding my 5600 PUT.
On stocks:
There is still merit in continuing long in AMBUJACEM. But better to exit if it goes below Friday's low.
Buy TCS only if it goes above 1306 in cash. It should go up by to 1335-1338.
OR
Bull spread strategy on TCS
BUY 1300 CALL @ 22 and SELL 1350 CALL @9. Maximum profit could be around Rs. 9000, if it closes above 1350 or maximum loss could be Rs. 3500 if it did not reach the target. Very favorable risk reward ratio.
Buy ONGC only if it goes above 280.2 in cash. It should touch 284 tomorrow.
However, it is more safe to stay overall bearish in this market for next couple of days at least. PCR has gone below 1.0 and this is not good signal for bulls.
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