idea on McDowell-N on 6th October 2022Hi good afternoon
As i mentioned in my morning view the FMCG looks good and i am continuously mentioned about the McDowell as my proffered pick in this sector and i am continuously bullish on this stock so today it confirms the breakout as it has to sustain above the 856 and close the candle and now it happens so the CE writers are trapped and they try to cover their short positions at 871 there are many shorts buildup and the strong support at 833 had many delivery based buying at 800 in august which act as the major support at closing basis at cash levels below which major breakdown so keep in mind and as a positional recommendation of the buying as it has positive data and the 1st target is that 891 and 905 after which i have update you
keep the 900 CE as low cost low risk option trade which major price action trading @ 20.5 will see the easy target of 31 then 49 keep this positionally with 11 as a stop loss
major short covering may comes in some days Refer my daily view on the indices in which i have mentioned all
Disclaimer -- I may have some positions in some of highlighted stocks and this is only study for understanding purposed of the data and the patterns I am not saying anyone to buy any of these picks discussed here i am not SEBI Registered
