Those who are holding Shorts should trail it down till an exhaustion is seen in the prices in the short term.
On studying some individual stocks, a high risk short term long play in the following stocks for a very short period of 6-8 trading days is possible.
Tata Steel: 461-475++.........503--
Suzlon: ....69-70++...........75--
RCapital : 720-735++.........795--
RCom : 185-195++.........204--
Essar Oil: 130-132...........145--
Cairn : .262-265...........276--
Icici Bk : 770-780...........826--
Aban : 1285++...........1400--
Buying levels may come in either today or tomorrow. A tentative selling levels are mentioned in a more conservative way. Once the reversal is confirmed for the short term, the levels may move higher too.
I still maintain, CASH is King till a REAL medium term bottom develops on the price charts.
One stock that has been excessively sold off showing positive divergence in hour chart is "RCOM".
2 comments:
u mentioned call writing 4900,5000 for nifty.that shud be done on bounce towards what nifty level?
u write grt.hats off!
do you take private clients for real time trading?
Hi..Ajit,
Thank you.
Ideal level to write calls is when Nifty retraces either 50% or 61.82% of the fall in the early part of the series. Then you have some comfort levels to hold the "Sell" positions.
50% is @ 4960(Gap Down area)
62% is @ 5012 (Struggle area before market fell big time swiftly).
I share my thoughts and I do not take private clients. If you follow the markets along with me, you will grow in confidence and if you act on them when you are confident, then you are on your own to the success path.
Best regards.
ilango
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