The latest analysis and commentary by stock market guru Shubham Agarwal of Quantsapp Advisory on what is moving the markets today.
He also spoke at length on Indiabulls Housing Finance, Ashok Leyland, and Axis Bank.
Talking about stock recommendations Shubham Agarwal said, “First strategy is on Indiabulls Housing Finance and if you look at the moment there, there was a breakout couple of days back which saw failure yesterday and normally whenever the pattern like this get forms we do see acceleration happening on the other side of it. A Bear Put Spread can be initiated, one should look to buy 660 Strike Put and sell one lot of 600 Put. The next spread right now is at Rs 22.75 the target for the same will be Rs 40 and a stop loss can be maintained at Rs 12.”
He also said, “The second strategy is a sell call on Ashok Leyland but will participate via a Put option. The entire auto space has been declining and Ashok Leyland has been one of the underperformer even on the long term charts. 80 Strike Put Option which is quoting at Rs 2.75 can be bought for target of Rs 5 and a stop loss of Rs 1.5.”