I’ve purchased one lot of Adani Enterprises 2400-strike name for ₹57.25. What’s the outlook for this?
Anish Das
Adani Enterprises (₹2,152.65): The inventory has been in a bearish pattern since June final 12 months. The makes an attempt to get well over the previous couple of months failed because the 20 and 50-day shifting averages acted as resistance, stopping a rally past these averages.
With this background, the inventory was largely charting a sideways pattern since early February. However this sideways motion took the inventory again to the 20 and 50-DMAs, which have once more triggered a fall.
The inventory noticed a substantial sell-off during the last couple of classes, which has dragged it under a help at ₹2,250. This has opened the door for an additional leg of decline. Whereas the closest help is at ₹2,000, given the present momentum, the downtrend would possibly go nicely past this degree.
Even when there’s a restoration from ₹2,000, the inventory surpassing your strike worth of ₹2,400 is very unlikely. Therefore, given the present chart set-up, we propose exiting the decision possibility lengthy.
Because the pattern is bearish, you might contemplate shopping for places. If you happen to determine to take action, our suggestion can be to purchase a March expiry contract.
I’m holding February 27 expiry Nifty Financial institution name possibility. Ought to I maintain the identical or ought to I e-book loss as I’m going through 300 factors loss?
Avinash
Nifty Financial institution (49,099): The index, which confirmed a double backside chart sample within the first week of this month, couldn’t lengthen the rally and depreciated. Though there’s a help at 48,800; it ought to rally previous 50,000 to show the outlook bullish.
Check with the F&O Tracker part for extra evaluation on Nifty Financial institution futures and choices.
Merely put, the prevailing worth motion doesn’t present a particular path on the following pattern. Therefore, you might exit the decision possibility for now. From subsequent time on, please present us particulars like strike worth and buy worth.
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