SaiKiran578

DABUR - About to go down

Short
SaiKiran578 Updated   
NSE:DABUR   DABUR INDIA LTD
DABUR is about to come down, as it broke the channel pattern, retraced back and ready for a bigger move.

SHORT RISK/REWARDS are mentioned in the chart.

Target - 494.75, 480.15

SL - 507.8
Trade active: Entered the trade with DEC Fut.
As long as the trendline is not broken, I will be holding on to this trade.
Trade active: Broke the trendline, managed to hold there.
but couldn't hit our stop loss.

Sold 490 PE at 7.25 rs. If it hits our stop loss, I will be closing FUT trade, and will create Short Strangle by selling 540 CE.

Margin requirement will be almost same as shorting Fut trade.
Trade closed: stop reached: Stop Loss got hit.

Closed FUT trade and holding 490 PE. will create short strangle, only if the price comes down to 500.
Comment: Closed 490 PE, as I saw better trades.
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.