I was reading this news article on friday morning which came in www.economictimes.com
since thursday is expiry day one can expect there will be some amount of volatilty in stocks..but what made me intresting to spend some time on this is i like sesa goa very much coz there is lot of volatility in this stock...when ever there is ba of news of economy going slow or demand from china is reduced this stock will tank and when good news comes in the form of economy growing ,more demand from china or any other news..this will rise rapidly. These economic times very reporting that
Shares of Sesa Goa rose sharply on Thursday on the back of short-covering, but traders used this pullback to build short positions on the stock, as they feel the upside is capped
See the options data on sesa Goa on Thursday one can clearly see that 320 put has huge open interest that clearly indicates the down side is limited and the article on Thursday says upside is limited Thursday it ended at 337 . Since there is huge built up on 320 put it means the support is at 320 and not the resistance
link to check for sesa-goa price on friday
now do u call this as Upside Limit ? Still unable to believe economic times reporting like that. I have a feeling that i might be a paid news from brokerages .