M&M Short Idea
IF M&M sustains below 630,
Potential short position via M&M 630 PE
Stop loss if 631+
ZDAY data:
Correlation: -0.78
Interpretation:
- Money is being pulled out
- Price has been moving up
- If Price falls, Correlation improves, giving a good shorting opportunity
Beware, correlation is not a random walk.
Max hold till 19th Nov
Will update here if short position is taken
