Description
⋅ BHEL
CMP 66.60
Observations
- Long term trend is up
- currently in short term down trend
- trading between 20 day EMA (in yellow) and 50 day EMA (blue)
- there was a big gap down on 14 June 2021
- that zone may act as resistance for some time
- thereafter the stock has struggled to get past the orange line around 69.60
- the yellow zone is where the stock has support zone
- buying may be considered around 56-59
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Trading Strategy
- on any further rise especially towards 69.50, if I see the price getting rejected, then I would consider selling
- if price gets rejected at 20 day EMA itself, I might consider selling OTM Call options
- I would consider buying if the stock comes towards the yellow zone
Take care & safe trading...!!!
Trade active
⋅ 72 Call option sold at 1.15
Trade active
⋅ 72 Call option
Has come down from 1.15 to 0.55
Profit of 6300/- per lot so far
Happy trading..!!! 🙂
Trade closed: target reached
⋅ Selling 72 Call Option gives desired results.
Profit of Rs 12075/- from strategy
Comment
⋅ As discussed in the idea above BHEL has come in the yellow zone