Again all the targets in the downside and upside achieved and this is the tenth successive week for me from last eleven weekly calls. Markets have huge resistance at 4025 level, where again some technical bounce might be expected. But, now things are in ‘panic’ condition means there is no chance for the technical targets and supports. Markets are closed in RED consecutively from last six weeks. No positive news is visible in the near term which can drive the market positively. So, blood bathing likely to continue even at 4025 level when we speak fundamentally.
Key things to watch out for: FII flows, crude prices, political situation, interest rates, monsoon, and inflation. Out of them monsoon is only one positive news, remaining all are negative means the still some pain is left in the markets.
This week call: condition1: at the beginning Go short @4175-4200 targeting T1:4105 T2:4025 T3:3945 and after touching the 4025 buy a call option where we can expect a bounce which will lift it up to 4300 level for hedging your short call, and exit it at 4275-4300. Keep your short call till it reaches 3945.
Don’t take huge positions, due to targets are very narrow and now markets are in a stage where the huge support might come
1 comment:
I did buy the 4200 call as advised and it tanked a bit by end of day. do I need to keep a stop loss?
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