Hindalco: Chart setup & strategy

Hindalco
CMP 148

- The stock has resistance at 156-160 range

- red trend line is broken

- orange trend line if taken out, the stock can come down to 136 / 130 levels

Given the set up one may consider One may consider selling if orange trend line is broken. or consider selling on rise closer to 154 / 156
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Alternatively consider selling Hindalco 160 Call option around 4

Lot size 4300

Max profit potential Rs 17200/- per lot

Yield potential 9.5% approximately

In built Loss protection for a rise up to 164 on 30 July 2020

Take care & safe trading...!!!

Discliamer:
- The view expressed here is my personal view
- Use this for educational purpose
- Any decision you take you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be

ความคิดเห็น:

On a 5 min candle stick we observe a break down

Consider selling Hindalco 175 Call Option around 4-4.5