BPCL : Break out trade potential...
BPCL
CMP 380.50
- since June 2020, we observe, BPCL consolidating in channel and then giving a spike up or down
- channel zone is nearing breakout time zone
- momentum might be seen above 389
- multiple support between 355-368
- at CMP & on dips the stock provides good risk::reward ratio to go Long for targets of 408 / 440 / 473
- Stop loss if trades below 353
___________________________________________________________________________________________________________
Alternatively one may consider selling 28 January 2021 expiry
360 Put option between 9-12 (CMP 9.5)
Lot size 1800
Max profit potential Rs 16200/- - Rs 21600/- per lot
Inbuilt Loss protection in strategy for a fall in price up to 351-348 till January 28, 2021
Take care & safe trading...!!!
Hit the Like button / comment below if you find it useful
Follow for more such trading ideas...
Take care & safe trading...!!!
Disclaimer:
- The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- 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
CMP 380.50
- since June 2020, we observe, BPCL consolidating in channel and then giving a spike up or down
- channel zone is nearing breakout time zone
- momentum might be seen above 389
- multiple support between 355-368
- at CMP & on dips the stock provides good risk::reward ratio to go Long for targets of 408 / 440 / 473
- Stop loss if trades below 353
___________________________________________________________________________________________________________
Alternatively one may consider selling 28 January 2021 expiry
360 Put option between 9-12 (CMP 9.5)
Lot size 1800
Max profit potential Rs 16200/- - Rs 21600/- per lot
Inbuilt Loss protection in strategy for a fall in price up to 351-348 till January 28, 2021
Take care & safe trading...!!!
Hit the Like button / comment below if you find it useful
Follow for more such trading ideas...
Take care & safe trading...!!!
Disclaimer:
- The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- 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
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.