2019MAY_ICICIBANK_NEUTRAL_BEARISH_SPREAD

ICICIBank had a nice bull rally from 350 levels and trading its all time high. In current situation going short or long nacked is likely to create damage to the portfolio. So creating neutral to mildly bearish spread as I am expecting some correction from the higher levels when BankNifty is selling pressure at its highs.

-1x 30MAY2019 FUTURES - ₹ 409.1
+1x 30MAY2019 410CE - ₹ 15.4
-3x 30MAY2019 435CE - ₹ 6.15
-1x 30MAY2019 400PE - ₹ 11.4

Max. Profit ₹ +64,762.5 (< 400)
Max. Loss ₹ Undefined (> 439.5)
Breakevens 0-439.5

Comment:

You can track the payoff graph and live performance of the above spread using the below link.
bit.ly/2DDkV6J

Comment:

Disclaimer: Objective of this post is to educate and help all members earn profit from trading. I am not a SEBI registered analyst and strongly recommend people not to trade in NSE/BSE/MCX market basis above recommendations. All the stock picks are momentum picks chosen using technical indicators and for education purpose only. I am not responsible for profit and losses or SEBI audits arising out of the above calls. Stock market trading and investment is subject to market risks. Contact your financial advisor before taking trades or trade at your own risk.

Trade closed: target reached:

ICICIBank is running with 45k profit. Good time to book profit.

Comment:

Finally spread completed at 76k profit.