ITC LTDShort
ITC Earning season 25 May / Short trade @ 200
Updated
ITC in a breakout positon
Earning is on 25th may
1. 7%+ rally before earning season
2. divergence on money flow
3. resistance on 190-193 level (Technical analysis)
4. Resisitance as per option chain data is at 200.
Option chain data
Resistance strike 200 call - 33.5 lakh OI
Support at strike 180 put - 14.8 lakh oI
Bear looks more powerfull here.
Trade plan
Short
if stock price reaches 200 short SL 205 TGT1 190 TGT2 180
if stock price crosses 190 short SL 195 TGT1 180
Long
if stock price crosses 200 long SL 195 TGT
Earning is on 25th may
1. 7%+ rally before earning season
2. divergence on money flow
3. resistance on 190-193 level (Technical analysis)
4. Resisitance as per option chain data is at 200.
Option chain data
Resistance strike 200 call - 33.5 lakh OI
Support at strike 180 put - 14.8 lakh oI
Bear looks more powerfull here.
Trade plan
Short
if stock price reaches 200 short SL 205 TGT1 190 TGT2 180
if stock price crosses 190 short SL 195 TGT1 180
Long
if stock price crosses 200 long SL 195 TGT
Trade closed: target reached
beautiful path
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