Maruti is heavily overbought on daily , But can't predict when will it turn around ,Maybe 10k psychological price point
No Naked shorting or Long:
Use following and options strategy:
1) Buy Jan 1 lot , sell Feb 1 lot ( On pull back to moving average observe pattern and exit short , continue long)
2) wait patiently till pull back to moving average , Observe the pattern (marked in circle):
Buy , sell call of nearest strike price or in the money call.
3) DO NOT buy put / call pair , options are expensive right now , premium will decay swiftly.
Manage risk , You need atleast capital of 2.5 lakh to take above strategy .
If you don't have that capital , this trade is not for you.
Consult your financial adviser before taking any trade, F&O is highly risky.
Strategy is Buying JAN Futures i.e next month and not current December month,and shorting is of FEB futures.
This is to play both directions short (i.e pull back) as well long(continuation of existing trend).
Or the other way is wait till pullback on moving average and enter on reversal candle.