Amit_Ghosh
Short

[Positional] Justdial Short Sideways Trend

NSE:JUSTDIAL   JUST DIAL LTD
First, we can see it is on the upper range of a sideways trend. But if we see the futures chart, it has a muted rise!
As per OI data (https://unofficed.com/nse-stock-options/...)

https://unofficedforum.s3.dualstack.us-e...

It is in support of fall only. Where we can not monetize the fall properly as futures prices are already down!
The PCR is 0.64 which is shit. It means two times calls are sold instead of one put sell almost.

We need to short the future but if we see the stop loss in the equity which is around 40 points upside -
It is absurd as futures being in discount the entry is at far below!


This is the first target. The max pain is also at 560. As per money flow , unless there is fundamental cue (which is not here), it will test this level once before it decides where to go next.


This is target II and There should be a consolidation here for sure as we can see many transactions at this level.

Resistance became support!

We will exit full here. So the end line is -

Short Justdial Futures at 603.3 with a stop loss at 620. Target I is 562. Target II is 545.
Comment: Shorted Justdial at 613.65 with stop loss at 620.25
Comment: Justdial's current CMP is 603.8. I have no positions and booked the trade twice in scalp though. Will short near 610 zone tomorrow again seeing if it is gapping down or up.
Get trades instantly and discuss them with me at my Slack Channel @ https://unofficed.com/chat/

Our community is full with traders who actually trade!

Telegram: https://t.me/unofficed

Comments

Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out