LIC - H&S Doom

NSE: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
Comment: Stock showing weakness as expected but trade not triggered yet
Trade active: Trade triggered @ 614. Now 606
Bought 630CE Oct series @ 10.50 to hedge risk of bounce
Comment: Get rid of the stock above 647. Will buy again later
630CE is bought at 10.50 is now 25.50
Comment: 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
Comment: Hope everyone exited from 630 CE at around 35
Comment: Short the stock bbelow 633
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