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BajFinance Aug2019 Strategy

NSE:BAJFINANCE   BAJAJ FINANCE LTD
#BajFinance looking bullish on 45M charts. Stock had a strong recovery on last session. Stock made bullish engulphing kind of pattern on daily scale. Stock if trades over 3275 then further short covering may be expected. However going long at current stage requires to maintain a closing stoploss of 3000. And on upside it may test 3400/3500 in near to short term. Risk to reward may not be favourable in current situation in cash/future segment. Instead create a bull call spread to reduce the risk exposure.

+1x 29AUG2019 3300CE - ₹ 118
-1x 29AUG2019 3500CE - ₹ 44.45
-1x 29AUG2019 3600CE - ₹ 24.75
Max. Profit ₹ +37,800
Max. Loss ₹ Undefined
Breakeven 0-3751.2
PayOff: http://bit.ly/30XJ6WE
Estimated Margin₹ +226,340
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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