BAJAJ AUTO LTDShort
tricky situation in bajaj auto
Aggiornato
ups:-
1.electric vehicle sector
2. positive outlook post diwali
downs:
1. nifty and world markets in profit booking phase.
2. price currently being repetedly rejected at the resistance levels of rs 3855/57
3. price between (20,50,100) and (200) sma
4. stock overvalued.
outlook:
from the chart it is evident that incase closing tomorrow is above 3855, stock will rise. however, any slackness observed will bring it down to 3650 levels in short term.
Trade?
i am negatively biased on the counter. would
a. sell nov future at 3880 with stop loss at 4000
b sell oct 4000ce @ 33
c. buy nov 2x4000 ce @ 116
1.electric vehicle sector
2. positive outlook post diwali
downs:
1. nifty and world markets in profit booking phase.
2. price currently being repetedly rejected at the resistance levels of rs 3855/57
3. price between (20,50,100) and (200) sma
4. stock overvalued.
outlook:
from the chart it is evident that incase closing tomorrow is above 3855, stock will rise. however, any slackness observed will bring it down to 3650 levels in short term.
Trade?
i am negatively biased on the counter. would
a. sell nov future at 3880 with stop loss at 4000
b sell oct 4000ce @ 33
c. buy nov 2x4000 ce @ 116
Nota
Nota
the trend line support is getting stronger and stronger with every touch. possibilities of reveral cannot be ruled out
buy nov futures with 2 percent stoploss
sell dec futures with 2 percent stoploss.
40k margin initially. whichever side the stoploss gets taken out, i would hedge my trade with option on the other side
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