[Turtle] Cadila 330 PE

Short Cadila 330 PE at 5.9


Prologue - Cadila is a good company; in a downtrend and because of trump it is cyclic in short-term which makes it a good bet for swing trading. So far I have done 8 trades in it in swings and shared 3.
Let me share the past trades once before we move ahead so that you can get the pedigree of it.

Most swing trader's dream bet is 100% retracement. So it did dream run - i.imgur.com/lePXwSt.png


Next shared trade was wrongly timed -

Actually, the uptrend was broken but we should have waited for a lower high to enter. Instead, I had entered ago due to fear of missing out. Well, sometimes there is no lower high

It hit my target although giving a proper 100% retracement as you can see here but it made a lower low the moment we entered. So we could have got a better entry for the sake of perfection haha. i.imgur.com/JEBQF8W.png

Third trade was clean and a no-brainer. I buy Cadila at 340 and close it above 400 or trail it

i.imgur.com/MWx0rru.png

It also did a proper 100% retracement as you can see. Now coming to the current trade we are thinking to do.

The current spread is very narrow. As of now the first you can see is here the accumulation of it -

It is a sign of no direction.

Also, although OI says the range as 310 to 370 with max pain at 340; the amount of OI is very low

It tried to breakout once but we can see a strong sell-off.

So it is safe to say if this level is broken we can see a vertical breakout.

If Global market and NIFTY doesn't shoot up it will stay within 330-340 level this whole month but I strongly believe it will do a breakout.

If it falls it will be really good. Otherwise, if it goes up breaking the line showing in 240 timeframes, just buy it.

unofficed.com/o...ons-calculator/?save_id=5c...
Best setup if you ask me but if you manage to execute when Cadila is down, it is better

Comment:

Closing fut -

Not liking the candle.