Ambuja Cement: Chart set up, view and trade potential
Ambuja cement
We are looking at weekly chart of Ambuja Cement
- weekly closing high 539.35
- low made thereafter 471.05
The stock has possibly done its short term target on the upside (Jitna neeche utna ooper)
View: Rangebound
Given the set up one may consider a Bear Call Spread strategy
Sell 560 Call option currently around 8.3
Buy 600 Call option currently around 3.1
Lot size 1800
Net receivables Rs 9360 per strategy lot
Margin requirement approximately 91K
Profit potential approximately 10.25% on Margin till 24 Nov 2022.
Protection for a rise up to 565.2 till 24 Nov expiry.
Review point for me, If weekly close is above 544. It gives ample scope to adjust / exit in case stock behaves in a different way. Do follow your risk management measures
Take care & safe trading...!!!
Like and follow for more trading ideas like this
Disclaimer
-The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- I have been wrong in the past and can be wrong again in future too
- 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
- if trading in F&O, understand that F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be
We are looking at weekly chart of Ambuja Cement
- weekly closing high 539.35
- low made thereafter 471.05
The stock has possibly done its short term target on the upside (Jitna neeche utna ooper)
View: Rangebound
Given the set up one may consider a Bear Call Spread strategy
Sell 560 Call option currently around 8.3
Buy 600 Call option currently around 3.1
Lot size 1800
Net receivables Rs 9360 per strategy lot
Margin requirement approximately 91K
Profit potential approximately 10.25% on Margin till 24 Nov 2022.
Protection for a rise up to 565.2 till 24 Nov expiry.
Review point for me, If weekly close is above 544. It gives ample scope to adjust / exit in case stock behaves in a different way. Do follow your risk management measures
Take care & safe trading...!!!
Like and follow for more trading ideas like this
Disclaimer
-The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- I have been wrong in the past and can be wrong again in future too
- 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
- if trading in F&O, understand that F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be
