vigneshwaraj

Expiry Strategy Nov: Sell 115 Put @ 0.75. Lot Size: 5334

Long
NSE:GAIL   GAIL INDIA LTD
Trend continued to be in bearish territory on back of EMA (20 EMA below 50 EMA ). Recent correction from the resistance of 140 level where roof of the downward trend line hovers.
On contrary, as MACD above zero expect the price to find support around 120 levels. In the recent past, the price comfortably found support around the same level twice.
Expect a bounce back in the coming days so Nov expiry would above 120 levels.
As I always believe in option selling rather buying based upon the trend, prefers Sell 115 Put around 0.75 level.
Trade closed manually: Book profit at cmp 0.4.