Market is not showing any sign of recovery. Sentiments are negative. FIIs are selling.
TCS:
Let us adjust the strategy. It broke the trend line, closed near low of the day. So some more downside is possible.
Book profit in Future sell and buy 2000 TCS PUT.
TCS should show reversal very soon, unless there is some real bad news which we are not aware of and influential hands know it.
It is in oversold region, 14 day RSI is near 20, but still lot of OI addition on 2200 CALL will make it difficult for TCS to cross 2200 in next couple of trading sessions. However, TCS could retrace to 2250 in short time on back of weak Rupee.
In short, book profit in Future sell contract, Buy 2000 PUT, hold 2200 CALLs and hold 2050 PUT.
ICICIBANK
Hold strategy, with hope of northward movement!!
If ICICIBANK goes below 930 then better to exit.
Disclaimer: This blog does not take any responsibility of your profit/loss
TCS:
Let us adjust the strategy. It broke the trend line, closed near low of the day. So some more downside is possible.
Book profit in Future sell and buy 2000 TCS PUT.
TCS should show reversal very soon, unless there is some real bad news which we are not aware of and influential hands know it.
It is in oversold region, 14 day RSI is near 20, but still lot of OI addition on 2200 CALL will make it difficult for TCS to cross 2200 in next couple of trading sessions. However, TCS could retrace to 2250 in short time on back of weak Rupee.
In short, book profit in Future sell contract, Buy 2000 PUT, hold 2200 CALLs and hold 2050 PUT.
ICICIBANK
Hold strategy, with hope of northward movement!!
If ICICIBANK goes below 930 then better to exit.
Disclaimer: This blog does not take any responsibility of your profit/loss
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