IGL - Forming Descending Triangle - Long Bet For December

Nov 18, 2022

IGL is forming descending triangle and it would be worth a long shot for Dec series. Targets are marked on the chart

SL for longs can be - 205.

Would be best to play in cash or play with long synthetic split option strategy ( Sell put at strike A ( close to SL level ) and buy call for strike b ( potential target level or ATM call option )

Let's see which way the story unfolds. Happy Trading!

Disclaimer -

- The view expressed here are my personal views. I am publishing this for my own records and what I see on charts.
- If you're referring to this, please consider this ONLY FOR educational & research purposes.
- Past performance is not a guarantee for future predictions
- Any decision you take, you need to take responsibility for the same. DO NOT consider this as an investment suggestion.
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- Do your own analysis and consult your financial advisor before investing.

TIA!

Jan 5, 2023

Trade closed: target reached

1st target achieved