Paytm shares open at 609 with no buyers at that price. Let's guess how many lower circuit there will be. I vote 3 lower circuit and then a downward journey. So it will see 389.8 on Monday.
20% will be 610 Then 490 390 310 250
5 sessions required
Isn't there a limit to LCs too? I have had Adani stocks before, they would halt trading after a while
If there is i suppose those are case by case. I doubt they'll step in after 3 trading sessions. This will see a free fall for next few sessions. It should be available at rs 250 in a couple of days. One can decide to gamble at 250.
stocks in FnO are bound to go down more 20%, this is regulated by the exchanges. stock which is not in fno like paytm, it will continue to hit lower circuit until buyers emerge but lower circuit will be revised lower from 20% to 5% over (there's logic behind this)
I wish paytm was FnO enabled, option chain could have been a good tool their to predict the price level expectations.
Could you explain to us how option chain works? It will be useful for future reference.
Explaining here won't be possible but you can search and learn more about option chain analysis. It helps you see where (what price levels) there is OI, that is crowding in contracts, you should be able to see different strategies (option strategies) players are deploying, and make a judgement on market sentiment. Brokers in US publish MMM, that is market maker movement, that is what broker chain expects movement in above or below.
As expected paytm stock got stuck on lower circuit (maximum downward move allowed in a day). Insanely large selling volumes with zero buy orders.
One97 to hit 197 soon
