ORIENT BANK : JACKPOT TRADE .... ?
Updated
ORIENT BANK has formed a symmetrical triangle pattern.
A Breakout below 147 can take it to 135/120 levels.
Players have already taken short positions between 23rd to 26th May.
Later some positions were covered.
However a fresh short position is seen in the counter today, with prices falling & OI increasing.
A head scratching data is troubling me.
A very High Open Interest is added on 100 & 95 strike puts.
Why would anybody bother to buy/sell 95 strike puts when we are at 151 levels.?
Are we heading there... ? And very fast....
Although i have a very low conviction that it can reach to those levels, i still would like to see what the market teaches me.
I would suggest buying 105 strike puts as a pure High Risk/High Reward Play.
Traders are advised to take this trade with a pinch of salt and only trade in proportion to their Risk appetite.
Suggestions & comments from experienced & sound Analysts are welcome.
A Breakout below 147 can take it to 135/120 levels.
Players have already taken short positions between 23rd to 26th May.
Later some positions were covered.
However a fresh short position is seen in the counter today, with prices falling & OI increasing.
A head scratching data is troubling me.
A very High Open Interest is added on 100 & 95 strike puts.
Why would anybody bother to buy/sell 95 strike puts when we are at 151 levels.?
Are we heading there... ? And very fast....
Although i have a very low conviction that it can reach to those levels, i still would like to see what the market teaches me.
I would suggest buying 105 strike puts as a pure High Risk/High Reward Play.
Traders are advised to take this trade with a pinch of salt and only trade in proportion to their Risk appetite.
Suggestions & comments from experienced & sound Analysts are welcome.
Note
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