Daily chart making Lower Highs, expecting more downward momentum for September series.
Trade Plan :- - Only consider shorting/buying put options if close below 1400. - If above condition satisfied, Buy 1350 put option for September expiry (CMP 45). Target - 57 / 66 / 70. - Keep SL if daily close of spot above 1450. - View negated if price closed above 1450 before entering.
Enter and exit only based on above conditions.
P.S :- This is published only in interest of educational purpose.
Trade active
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1350 SEP PE from 45 to high of 60 and close of 55.45. Target 1 almost reached in intraday itself. Lets watch the price action in coming sessions.
Comment
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CMP 1350.55
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Touched high of 69.00 on 30th Aug. Safe players should have exited. Risky players can carry till September series. Daily chart still respecting trendline.
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Touched high of 61.15, closed on 59. 14 points profit from entry. Risky players can carry till close below 1340 or square off.