LIC - H&S Doom

Sep 25, 2017

LICHSGFIN, CMP 622, has made Head & Shoulder pattern and may lead to a big fall now.

However we may see some retracement, to 640-680, before the action.

Short setup
Sell LIC below 614 with SL of 690 (short SL 636). Target 550 / 520

Instead of keeping the short SL it will be better to hedge the trade and buy 630 CE @ <14 (buy only when the actual trade triggers). This will help minimize the risk

Sep 26, 2017

Note

Stock showing weakness as expected but trade not triggered yet

Sep 27, 2017

Trade active

Trade triggered @ 614. Now 606
Bought 630CE Oct series @ 10.50 to hedge risk of bounce

Oct 3, 2017

Note

Get rid of the stock above 647. Will buy again later
630CE is bought at 10.50 is now 25.50

Oct 9, 2017

Note

LIC has made a perfect dogi today. Tomorrow can be a day of reversal for LIC
Sell 630CE holding if LIC moves below 660
Will prepare to make short position thereafter

Oct 12, 2017

Note

Hope everyone exited from 630 CE at around 35

Oct 12, 2017

Note

Short the stock bbelow 633