One can take a short position in JP associates with SL at the neck line. We can look at safe options to sell SEPT 20CE which is at .50 RS which has intrinsic value of 34000 Rs.
Comment:
It will go up somewhat tomorrow because of the hammer formation. so one can wait and short the option when it has a juicy premium.
Trade active:
Jp associates sep 20CE made a high of 0.70
Trade closed: target reached:
Its at 0.10 safe people can close for a Profit of 40800 rs per lot. others can hold on till expiry as probably it will expire worthless unless there is some news
Trade closed: target reached:
As said the 20CE option expired worthless. total final profit is 47600Rs. Enjoy :)