Its the next RCOM and will go to zero after few years.
The company has no future ahead. Just a single building full of employees cold calling local vendors to extract money. Google Maps disrupted their business totally unlike IndiaMart which is focused on B2B segment only.
Justdial is trading on the range of 300–600 since two years. Every time the results come up; it ends to the moon and slowly deteriorates to the hell. So there is four results season, avoid it that time. Rest time, just keep selling it with a stop loss. It will make nice money.
This month should be the deterioration month.
Price Action –
Expecting a retracement on the 0.236 level towards the level of 0.618 where the support lies. Short is already initiated; its just matter of waiting right now.
FNO Analysis –
- Looking at the Open Interest, We can see huge call options of 680 strike price has been already written followed by 480 put options. Also, we can spot put unwinding at the current levels.
- The delivery percentage is weirdly low. Only insane momentum investors will buy Justdial at this level.
- On Friday, the price fell with a good gain in open interest showing firmness on the direction.
Its one of those stocks for which I will be happy if it goes up as well as if it goes down. Going more up means we will be better vantage point to short it right?
Let’s sell 680 call options clubbed with a PE buy with the same premium.
Past Justdial Ideas –
- “Justdial “— published April 06, 2017 – Profit with Target Hit
- “Justdial” — published October 20, 2017 – Profit with Trailing Stop Loss