As expected markets skidded further, blood bath continued in last week. It is very difficult to give a trading call in this panic condition. New entrants and the traders better to avoid this week because some swing movements might happen on both the sides.
Govt will come with some new innovative idea in the upcoming week/ weeks so that we can get some cushion otherwise the blood bath might continue.
The immediate downside target is 2310 and long term support is at Nifty 2025.
Till government’s announcement of policy action/ rescue package / ban on short selling etc., , target for the down ward levels. In the mean time we may have some bounce like 5-10% due to oversold conditions, derivatives expiry week etc.,
If you have the shorts/puts just hold them, till the policy action from government.
If you are very aggressive and willing to take risk then the best strategy is to buy the 3000 call option CE of NOV on today opening and willing to average it for three times in same value, further adding points at 2310 and 2025. This call should hold for the whole month of Nov or fetches you the good returns, whichever reaches first.
All the best
Happy investing
Prosper on ups and downs
BE and MAKE
No comments:
Post a Comment