Hindalco: Chart setup & trading strategy
Hindalco
Closing price 124.40
- Any dips especially towards 121-119 provides good risk:reward ratio to go long for target of 133 / 136 / 140.50
SL 117
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Alternatively, consider selling Hindalco 25 June 2020 expiry 115 Put option around 4.5 - 5
Lot size 3500
Max profit potential Rs 15750/- to Rs 17500/- per lot
ROI potential 12.7% - 14.1% approx
Take care & safe trading
Closing price 124.40
- Any dips especially towards 121-119 provides good risk:reward ratio to go long for target of 133 / 136 / 140.50
SL 117
----------------------------------------------------------------------------------------------------------------------------------------------
Alternatively, consider selling Hindalco 25 June 2020 expiry 115 Put option around 4.5 - 5
Lot size 3500
Max profit potential Rs 15750/- to Rs 17500/- per lot
ROI potential 12.7% - 14.1% approx
Take care & safe trading
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