Book profit in Bank of India.
Try and find opportunity tomorrow for profit booking in CAIRN.
IDFC:
IDFC is again at support level.
It has formed double top formation. It has bounced back from this level two times in last one month. Will it do it again?
Maybe this time, since indices are going down, double top pattern could work and IDFC will go to 147 before end of week.
Lot of additions in 155 and 160 CALLs indicate 155-160 level is sealed for some time. Not much addition in PUTs suggest there is still further downside possible.
Strategy:
Buy IDFC 150 PUT around 1.80-2.00.
Target 4.00-4.50 till weekend Or exit by weekend. Maximum loss could be less than Rs. 2000/-
Disclaimer: This blog does not take any responsibility of your profit/loss
Try and find opportunity tomorrow for profit booking in CAIRN.
IDFC:
IDFC is again at support level.
It has formed double top formation. It has bounced back from this level two times in last one month. Will it do it again?
Maybe this time, since indices are going down, double top pattern could work and IDFC will go to 147 before end of week.
Lot of additions in 155 and 160 CALLs indicate 155-160 level is sealed for some time. Not much addition in PUTs suggest there is still further downside possible.
Buy IDFC 150 PUT around 1.80-2.00.
Target 4.00-4.50 till weekend Or exit by weekend. Maximum loss could be less than Rs. 2000/-
Disclaimer: This blog does not take any responsibility of your profit/loss
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