IRCTC: Chart set up and trading strategy
Updated
IRCTC
CMP 3355
- we observe supply increasing in IRCTC once stock goes above 3300
- 3270 / 3252 / 3238 are some important levels
- however if we see these levels being taken out probability of IRCTC testing the target zone would increase.
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Given the set up
One may consider to sell IRCTC Sept expiry 3500 Call option currently around 80
Yield potential is around 10% till expiry
In built loss protection for a rise up to 3580 till expiry
Look to exit if IRCTC closes above 3422
Take care & safe trading...!!!
CMP 3355
- we observe supply increasing in IRCTC once stock goes above 3300
- 3270 / 3252 / 3238 are some important levels
- however if we see these levels being taken out probability of IRCTC testing the target zone would increase.
_____________________________________________________________________________________________________________________
Given the set up
One may consider to sell IRCTC Sept expiry 3500 Call option currently around 80
Yield potential is around 10% till expiry
In built loss protection for a rise up to 3580 till expiry
Look to exit if IRCTC closes above 3422
Take care & safe trading...!!!
Note
Disclaimer- The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- Use this for educational purpose
- Any decision you take, you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- if trading in F&O, understand that F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be
Trade active
3500 Call is at 85
Trade is active
Order cancelled
The stock is currently under F&O ban period as it has reached 95% of Marketwise Open Interest position...
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