Short Call !!!

The overbought market needs some trigger to make profit booking and shade it weightage for further long. In such scenario, I bring you a stock which is downside potential of around 17%. It has given a massive breakout in last 1 month. The current level is 192.2. If it crosses below 190, It is not going to get any support till the level of 160. So, go short at 190 for the target of 160.

Shorting August future with hedging by buying out of the money call will be the best preferred trade for this counter.

The stock name is Samvardhana Motherson International.

Happy Trading.

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