DABUR - About to go down

SaiKiran578 Updated   
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.
Closed 490 PE, as I saw better trades.

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