Main indices almost close flat with Nifty have over 300 point intraday movement. Mid cap index up over 3%, A/D favors Bulls, and Volume too. One concern I see is falling of Reliance over 5%. Reliance Industries A Very Heavy Weight in NSE now also effect moment of RPL due to disclose of merger ratio. Today’s Day was saved by Banks, Capital Good & Reality and one special stock in oil and gas ONGC.
Still I will continue my view on holding Call + Put both Long. I know its very expensive but still, Bulls and Bears are tussling very hard. Bulls have upper hand, due to renewed positive sentiments, Gap Up opening + Up Circuit Closing on Monday. If we look to fundamental then noting has changed form last Friday to this Tuesday, even people who are long on there Investment as not comfortable with such sudden rise. Short term picture will be clear in couple of day, till then if you are holding naked short then it would be good to keep Stop Loss of 4450 / 4500. I would not recommend fresh new long as of now. For Intraday Trader fresh short can be initiated with said Strict SL level.
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