GAP TRADE Short

INFOSYS LTDNSE

Description

⋅ Jul 16, 2020 6:16 PM

"GAPS ALWAYS GET FILLED" - If not tomorrow, may be sooner or later - WAIT FOR THE PRICE ACTION!

Hope all you witnessed the glenmark story.

If for any reason (profit booking or short retracement) stock breaks 900 level again, it can see a sharp fall towards downside to fill the gap.
RSI confirms the overbought zone. Do not be in hurry! wait for some good price action as it can spend some more time and then break.

NOTE: Trade with caution. It may be result into a runaway gap!

Disclaimer: Take this view only for educational purpose. Trade on your own risk.
Happy trading!

Comments

jameelke1999

⋅ Jul 17, 2020 11:38 AM

so there is a chance to retrace to 847 levels?

rahuljaiswal1580

⋅ Jul 18, 2020 10:38 AM

@jameelke1999, Bright chances! But for that it shouldn't sustain above 900 for more than 2-3 days. Otherwise this would result into a runaway gap.

consistentUnic50047

⋅ Jul 17, 2020 9:46 AM

Except July expiry sir?

rahuljaiswal1580

⋅ Jul 17, 2020 9:47 AM

@consistentUnic50047, sorry I didn't get your question

consistentUnic50047

⋅ Jul 18, 2020 1:14 AM

@rahuljaiswal1580, I bought 800 pe at 3rs in July expiry. Can I wait target 6?

rahuljaiswal1580

⋅ Jul 18, 2020 10:37 AM

@consistentUnic50047, Once it breaks 900 levels with good volumes it will rush to fill the gap, In such case hold your position and book profits if you see any. If its able to sustain over 900 for few upcoming sessions, better to cut your position beacause it might be a runaway gap which will never get filled. Hope that make sense.