Short EicherMot Feb Fut at 18950 with Sl-19300 Target - 18250
Reasons for Sell
1. Eicher formed Bearish Marubozu today on daily charts
2. Next Support is seen around 18200 Levels.
3. Resistance between 19250-19500
4. RRR is around 2 which is good
5. Selling with strong volumes.
6.
Risks:
1. Stock is already in down trend
2. RSI at 26 indicating oversold thus chances of reversal.
Trade is at Confidence level of 80%
Hedge the position by buying 19500 CE. The hedge will be used to cover gap up openings due to overnight news if any. The Hedge will be closed/carried based on market opening.
kite.zerodha.com/ext...NSE/EICHERMOT/232961
1. Eicher formed Bearish Marubozu today on daily charts
2. Next Support is seen around 18200 Levels.
3. Resistance between 19250-19500
4. RRR is around 2 which is good
5. Selling with strong volumes.
6.
Risks:
1. Stock is already in down trend
2. RSI at 26 indicating oversold thus chances of reversal.
Trade is at Confidence level of 80%
Hedge the position by buying 19500 CE. The hedge will be used to cover gap up openings due to overnight news if any. The Hedge will be closed/carried based on market opening.
kite.zerodha.com/ext...NSE/EICHERMOT/232961
Komen:
Revise stoploss to 19150 to protect profit earned in 19500 CE
Komen:
Exit the 19500 CE around 720 which was bought yesterday at around 650.
Keep holding the futures Lot.