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AshokLey BullCall Spread

NSE:ASHOKLEY   ASHOK LEYLAND
Ashokley looking good to buy after long long time. Since its trading its 52 week lows instead of going long in the stock a bull call spread can be created for August expiry.

+1x 29AUG2019 72.5CE - ₹ 5
-1x 29AUG2019 80CE - ₹ 1.7
Max. Profit ₹ +25,200
Max. Loss ₹ -19,800
Breakeven 75.8
PayOff: http://bit.ly/2GyiLqu

If stock keeps falling below 70 then as part of adjustment sell 70 August CE and convert it to bear call spread. And exit the 80 CE in profit.
Comment: Disclaimer: Objective of this posts is to educate and help members earn profit from trading. I am not a SEBI registered analyst and strongly recommend people not to trade in NSE/BSE/MCX market basis above recommendations. All the stock ideas/views are momentum picks chosen using technical indicators and for education purpose only. And my views may go wrong. I am not responsible for profit and losses or SEBI audits arising out of the above calls. Stock market trading and investment is subject to market risks. Contact your financial advisor before taking trades or trade at your own risk.

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