Today market went up due to short covering, but still there is strong support in 5550/5560 level. Also there was gap earlier which has to be filled in this down trend, it is at around 5525. These are important hurdles to cross for bears.
NIFTY will struggle to cross these barriers before expiry of this month though eventually there is possibility that it cold break it. Due to sudden fall there must be lot of short coverings and also in last two days one can see carry forward positions and hence some buying due to that.
Hold on to old positions for two days. Book profit as soon as you see more than 10/15% gain. Market might move with Rupee direction in near term.
One can buy IFCI 22.50 PUT @ 0.20-0.25.
Low risk of Rs. 1600/- but if stock crosses 21.70 in cash, it will crash, it has no support. Everyday it is falling with volume, did recover little bit today. NIFTY corrected 8% and this stock corrected 50%, if NIFTY corrects further, operators will sell remaining lots of IFCI. This is pure trading recommendation without any in-depth analysis. Low risk and high reward.
Disclaimer: This blog does not take any responsibility of your profit/loss
NIFTY will struggle to cross these barriers before expiry of this month though eventually there is possibility that it cold break it. Due to sudden fall there must be lot of short coverings and also in last two days one can see carry forward positions and hence some buying due to that.
Hold on to old positions for two days. Book profit as soon as you see more than 10/15% gain. Market might move with Rupee direction in near term.
One can buy IFCI 22.50 PUT @ 0.20-0.25.
Low risk of Rs. 1600/- but if stock crosses 21.70 in cash, it will crash, it has no support. Everyday it is falling with volume, did recover little bit today. NIFTY corrected 8% and this stock corrected 50%, if NIFTY corrects further, operators will sell remaining lots of IFCI. This is pure trading recommendation without any in-depth analysis. Low risk and high reward.
Disclaimer: This blog does not take any responsibility of your profit/loss
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