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.
Whether you like the idea or not, please comment.
You are welcome to disagree if it does not suit your trading style.
Whatever the case. Please comment.
Your comments keeps our convictions going. They motivate us to improve our knowledge base & skills. Lets make this platform a bit more interactive..