- the stock has taken resistance exactly at 76.4% retracement at 355 odd levels
- given the set up one may consider to 370 Call option currently at 12
Lot size 1800
Max profit potential Rs 21600/- per lot (yield potential of 8% til 25 June)
In built loss protection for a rise up to 382 in spot price
Take care & safe trading.
Comment
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BPCL Strategy update.
370 Call option closing price 13.45 (sold at 12)
okay so what have we got here. BPCL has closed above it's 76.4% retracement. This rise is on back of better than average volumes today along with slight increase in Open Interest. Tomorrow is also weekly closing. If weekly closing is also above 355 then it could imply further bullishness.
If that be the case, consider selling BPCL 330 Put option (closing price is 8.7) in tomorrow's trade and look to exit from Call short position.
Will update further in market hours.
Take care & safe trading...!!!
Comment
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as suggested yesterday, we exited from 370 Call option at 11.75 and have shorted 330 Put option at 9.3
For risk management, If stock goes below 342, we would be closing out this trade.
Trade closed: target reached
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BPCL CMP 388.85
This is how Technical analysis along with Derivatives data analysis helped us. They warned us and told us that you are sitting in the wrong train. Get out before it's too late.
Good for us, that we listened to Market and adjusted our strategy.
Strategy update BPCL 330 Put option update
Sold at 9.3 CMP 3.7
Current profit Rs 10080
You don't need any tips, any insider info provider. Just listen to market directly. They do communicate and try to say a lot of things to us. This BPCL trade is a classic example here.
Learn & listen to increase your chances of winning trades.
@indiamarketoutlook is this Trade still Valid ? I see the price for BPCL is sideways for this week , pal chk , thx .
indiamarketoutlook
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@Vinaykumar777, No, you may avoid it. Conditions have changed. Have updated it in timeline too. Kindly refer the timeline for further details.
GautamH
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ITS AGAIN TESTING ITS 76% AREA AND TRADING THERE... DO YOU THINK THIS TRADE IS STILL GOOD? CAN BE ACTIVATED..NIFTY HASNT FALLEN AS BADLY AS EXPECTED..JUST LITTLE PROFIT BOOKING..NOTHING MAJOR VISIBLE..
PLS GUIDE
you may ignore this trade setup.
BPCL has increased with above average volumes along with rise in Open Interest. Have updated in timeline also accordingly.