ONGC: Breakout trade potential and F&O strategy
ONGC
CMP 119.55
This is what was mentioned on 11 Aug
It was highlighted that momentum might come above trendline. Today it crossed that trendline.
Looks like the stock has finally given a breakout
Target of 129/ 133 is on
_________________________________________________________
F&O strategy
One may Consider buying 120 Call option in the range of 2.8 - 3.5 (CMP 3.3)
Target 5.2 / 8
Stop loss as per your risk appetite. Do give importance to Risk Management.
_________________________________________________________________________________________________________________________
What I have done to reduce my risk is I have sold 115 Put option currently around 2.6.
If ONGC stays above 115 but below 120 on 30 September my loss in strategy would be 0.7 paisa per strategy lot
(Risk of loss would increase if closing is below 115 on 30 Sept)
If ONGC closes at 120.70 on 30 Sept, strategy would breakeven and
any close above 120.70 on 30 Sept would be my profit.
Take care & safe trading...!!!
Like and follow for more such ideas
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
CMP 119.55
This is what was mentioned on 11 Aug
It was highlighted that momentum might come above trendline. Today it crossed that trendline.
Looks like the stock has finally given a breakout
Target of 129/ 133 is on
_________________________________________________________
F&O strategy
One may Consider buying 120 Call option in the range of 2.8 - 3.5 (CMP 3.3)
Target 5.2 / 8
Stop loss as per your risk appetite. Do give importance to Risk Management.
_________________________________________________________________________________________________________________________
What I have done to reduce my risk is I have sold 115 Put option currently around 2.6.
If ONGC stays above 115 but below 120 on 30 September my loss in strategy would be 0.7 paisa per strategy lot
(Risk of loss would increase if closing is below 115 on 30 Sept)
If ONGC closes at 120.70 on 30 Sept, strategy would breakeven and
any close above 120.70 on 30 Sept would be my profit.
Take care & safe trading...!!!
Like and follow for more such ideas
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
Trade closed: target reached:
Target achieved
Target achieved
The stock is close to 76.4% Fibonacci retracement
ONGC 120 Call option gave ample opportunity to buy between 2.8-3.5
Yesterday's close was 2.75
CMP 5.2 ( Target of 5.2 done)
Consider booking profits as per risk appetite
Happy trading...!!!😊
Follow for more such trading ideas