Long can be executed as the price and RSI breaks the trend line in upside for minimum 80 points target. This analysis will be valid till May or June. Exit once the stoploss is triggered. Kindly share your valuable feedback.
Disclaimer : please do your own research or consult your advisor before taking any trade. This view is for educational purposes only.
I have bought Maruti May 6700 CE at 206 now it is 198 .. what should I do ? Plz suggest
natarajanshankar
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@patelhitesh000, Maruti has a strong support & Resistance zone at 6680 level. Now it broke that level. You can continue your trade if it starts to rally from Monday or Tuesday. Even if the rally did'nt begin, You can hold for 1 or 2 days as long as it stays above 6680 by day candle close. Even after it give bullish move after 3 days, you will lose some premium value.
Stock options are good for Intraday trades. Holding the options is a good option when you surely know the stock is bullish. As the last candle was a Doji, its indecisive mode.
This idea will be good for Positional futures and short term cash market trading.
This is just my suggestion. You can take your call. :)