AxisBank is in upwards trend halted temporarily.It may trade between 620-650 expiry period..divergence has been found in RSI as well as CCI..it may not appear immediate pullback..it will come to 620 and again resume journey. to 700 by next month expiry.. This stock is for long time buy and short time short with 620PE-660CE for Aug.18 expiry.. Buying Futures of SEP18 expiry will hedge any immediate upside before expiry..This is education purpose and you can test the idea in paper trading Another idea is you can buy Stock Qty 1200 if Friday opening break at 635 price barrier and short 650CE of August expiry
Comment:
Entry point should be 627.15 if it is not touched on monday will close it if the 650 Resistance broken..then there is no stopping for upward..put a buy stop loss order above 650
Trade closed manually:
Trade idea will be reviewed only if it is pullback to ..but played with 660 CE and 650PE with slender profit for August expiry