LIC Housing Finance: Double trouble resistance
Updated
LIC HSG FIN
Closing price 261.85
Observations
- Gap zone created on 4th May 2020
- stock faces resistance exactly at gap levels
- broken the channel in the process
- zone of 251-254 may provide some support
- once that level is taken out the stock may come towards the green line
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Consider selling on rise (preferably in the zone of 265-270) for target of 254 / 246 / 228
Pattern gets invalidated if stock goes closes above 282 on daily charts (for positional play)
Intraday traders may look to cut down the risk if stock closes above 272 on hourly chart
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Alternatively one may consider selling LIC HOUSING FINANCE 28 May expiry 280 Call Option around 14-15
Lot size 1300
Max profit potential Rs 18200/- to 19500/- per lot
In built loss protection in strategy for a rise up to 294
Take care..!!!
Be safe & be strong.
Closing price 261.85
Observations
- Gap zone created on 4th May 2020
- stock faces resistance exactly at gap levels
- broken the channel in the process
- zone of 251-254 may provide some support
- once that level is taken out the stock may come towards the green line
---------------------------------------------------------------------------------------------------------------------------------------------------
Consider selling on rise (preferably in the zone of 265-270) for target of 254 / 246 / 228
Pattern gets invalidated if stock goes closes above 282 on daily charts (for positional play)
Intraday traders may look to cut down the risk if stock closes above 272 on hourly chart
---------------------------------------------------------------------------------------------------------------------------------------------------
Alternatively one may consider selling LIC HOUSING FINANCE 28 May expiry 280 Call Option around 14-15
Lot size 1300
Max profit potential Rs 18200/- to 19500/- per lot
In built loss protection in strategy for a rise up to 294
Take care..!!!
Be safe & be strong.
Trade active
LIC HSG FIN opens at 14.5High so far 15
giving ample opportunity to sell in the range
Trade active
LIC HSG FIN 280 Call option updateSuggested selling in range of 14-15
CMP 6.1
Lot size 1300
Current profitability 1300*(14.5 - 6.10) = Rs 10920/-
Enjoy & have a gr8 weekend
Trade closed: target reached
LICCMP 223
Short idea given at 270 for target of 228. Target achieved
That's more than 15% captured. Hope you guys enjoyed .
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