304 TO 307 IS MAJOR RESISTANCE FOR MOTHERSUMI IF CLOSE ABOVE 307 WITH GOOD VOLUME WE CAN SEE GOOD RUN UP BUT ANY PRICE REJECTION AT LEVEL 304 -306 WE CAN SEE SHARP DECLINE UPTO 250 ALSO POSSIBLE
NIFTY AUTO IS AT SUPPORT BE CAUTION TO SHORT THE AUTO SECTOR AFTER SEEING ASHOK LEYLAND AND BAJAJ AUTO
I CAN GO LONG WITH SL OF 502-500 FOR TARGET OF 540-550 CMP 518. AS PER ME CHART IS LOOKING BULLISH
Soon nifty give breakout but it seems false breakout unless smallcap and midcap not give participation .
New high is also possible but its only for trap the Retail . Be caution
Just Dial result is awaited . Chart looks positive their is huge put writing at 500pe .
I go long with stop of 560 / buying 2lot of 600ce at 20.5 with stop of 14.