Due to overbought intraday situations and since PCR was below 1, it showed quick correction. As a general obsevation whenever PCR is below 1 or just around 1, NIFTY shows very sharp correction. This was mentioned in this blog two days ago and cautioned for longs.
If liquidity remains at current levels and if Rupee gets some strength, this correction might not sustain and it might not see much lower levels, it could correct till 6150 though.
Some stocks corrected very fast which shown quick rise. RELINFRA was one of them. It has gone till 413 in cash today from 436 and bounced back from the support.
RELINFRA 410 PUT
Sell RELINFRA 410 PUT between 10.50 and 11. Book small profit during the day in the range of 8-9.50.
Risk averse can sell 380 or 390 PUTs around 4 and 6 respectively.
Exit or do not enter in trade if RELINFRA goes below 407 in cash segment.
Disclaimer: This blog does not take any responsibility of your profit/loss
If liquidity remains at current levels and if Rupee gets some strength, this correction might not sustain and it might not see much lower levels, it could correct till 6150 though.
Some stocks corrected very fast which shown quick rise. RELINFRA was one of them. It has gone till 413 in cash today from 436 and bounced back from the support.
RELINFRA 410 PUT
Sell RELINFRA 410 PUT between 10.50 and 11. Book small profit during the day in the range of 8-9.50.
Risk averse can sell 380 or 390 PUTs around 4 and 6 respectively.
Exit or do not enter in trade if RELINFRA goes below 407 in cash segment.
Disclaimer: This blog does not take any responsibility of your profit/loss
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