if this zone is taken out next resistance level is around 476-484 levels
- the red line of resistance and grey horizontal resistance line coincides around 484 on 28 October
- on the down side green line support on 28 October comes at 410 odd levels
Given the important levels
Strategy that may be considered
Short strangle Sell 480 Call option currently around 9.2 & Sell 410 Call option currently around 4.8
Max profit potential Rs 28000 per lot (yield potential of approximately 11.5% on margin requirement till Oct expiry)
Strategy has inbuilt loss protection for a rise up to 494 on the upside and 396 on the downside.
Take care & safe trading...!!!
Like & Follow for more such trading ideas
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
SELL 410 PE
Please check your description once