LICHF: Possible Reversal of Role Support turning into Resistance
LIC HSG FIN
- we observe the zone of 440 - 455 has been very crucial for the stock
- it acted as resistance in Jan-Feb-Mar 2021
- then later in May-June-July it provided support
That support zone has been broken once again...
- Will it act as resistance zone going forward???
- Important level on the downside the green support line around 380 odd levels
- Important level on the upside 418 / 433 / 440
__________________________________________________________________________________
Given the set up
One may consider selling LIC Hsg Fin 26 August expiry 440 Call Option around 5
Max profit potential Rs 10K till 26 Aug expiry
More importantly it provides protection for a rise in price up to 445
Take care & safe trading....
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
- we observe the zone of 440 - 455 has been very crucial for the stock
- it acted as resistance in Jan-Feb-Mar 2021
- then later in May-June-July it provided support
That support zone has been broken once again...
- Will it act as resistance zone going forward???
- Important level on the downside the green support line around 380 odd levels
- Important level on the upside 418 / 433 / 440
__________________________________________________________________________________
Given the set up
One may consider selling LIC Hsg Fin 26 August expiry 440 Call Option around 5
Max profit potential Rs 10K till 26 Aug expiry
More importantly it provides protection for a rise in price up to 445
Take care & safe trading....
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
Related Ideas
