ICICI PRU LIFE: Chart set up & strategy

ICICI Pru Life
CMP 421.20

We recently had recommended a long positional strategy for the stock with a price target of 416 and it has achieved that.

Now we are looking at a longer time horizon and bigger picture

- the red zone has played a crucial role in the past

Given the chart set up one may consider selling either once the orange line is taken out or on rise as closer to the red zone possible

- the target for the set up may be 368 / 336 / 304

This is a positional view
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Alternatively Consider selling 30 July 2020 440 Call Option between 16-24 (CMP 17)

Yield potential 10.5% - 16% till 30th July 2020

The strategy covers loss protection for a rise in price up to 456-464 till 30 July 2020

Take care & safe trading...!!!

Trade active:

As mentioned earlier, ICICI Pru Life has come to the red zone

440 Call option is at the upper end of the 16-24 range mentioned
Made a high of 23 so far

Trade is active