First, we can see it is on the upper range of a sideways trend. But if we see the futures chart, it has a muted rise!
Now, this data is in support of fall only. Where we can not monetize the fall properly as futures prices are already down!
The PCR is 0.64 which is shit. It means two times calls are sold instead of one put sell almost.
We need to short the future but if we see the stop loss in the equity which is around 40 points upside -
It is absurd as futures being in discount the entry is at far below!
This is target II and There should be a consolidation here for sure as we can see many transaction at this level.
Resistance became support!
We will exit full here. So the end line is -
Short Justdial Futures at 603.3 with stop loss at 620. Target I is 562. Target II is 545.
There is a huge difference in equity and fut price… does that factor any role in deciding the trade?
Most of the cases it is short on the next day.
Also one can do arbitrage if he has good amount of money, You see.