We know that Nifty
is in a downtrend and I feel that we have realized our near term bottom and can see a bounce back between 7700-7800 levels in next to 3-4 weeks. It is a good time to buy the overburnt stocks in the recent sell-off and rally along with the index.
Risk/Reward: 1:2 (roughly more than 1)
Strict Stop loss: 7200