From the above chart of KARNATAKA BANK we can se that it has moved from 80 level to 138-140 levels in a matter of one month that too without any significant correction.Yesterday was the first bearish sign which i felt in this stock, a GRAVESTONE DOJI was formed.Daily RSI of KARNATAKA BANK IS 85.45 whereas Weekly RSI is 76, i am expecting this rally to pause and correct a bit from these levels. So in that case one can short KARNATAKA BANK NOVEMBER FUTURES @136-139 with a target of 130-125.
KARNATAKA BANK NOVEMBER FUTURES CLOSED@ 126.1.One can book full profits tomorrow @ 126.Target achieved..:)
ReplyDeleteTotal profit per lot(lot size=4000)= 136-126=10 per lot
10*4000=40000
Margin money required per lot-96000
Profit % =40000/96000*100=41.66%
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