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 - tradingview.com/x/n078eifr/.
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.
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Shorted Justdial at 613.65 with stop loss at 620.25
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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.