DRREDDY shows negative divergence in Daily charts at the Monthly Resistance zones. Today, TL has been broken.Used 75 min to enter short on this one, once the TL was broken along with break of support levels. EMA crossover had already occurred earlier. An options call spread is suitable in such circumstances to eat premium.
1. Bought 2850 CE at 23.4
2. Sold 2750 CE at 54.2
Breakeven: 2780
Trade closed: stop reached
Chartered Accountant | Trader | Trainer
| afzallokhandwala.com
| afzallokhandwala.com
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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.
Chartered Accountant | Trader | Trainer
| afzallokhandwala.com
| afzallokhandwala.com
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.