PVR - Wait for it to come back to 1600 to buy puts

kunal_finner Updated   
NSE:PVR   None
Resistance - 1600
Target - 1400
Puts @ IV of 28% (relatively cheap)
Bear Flag already in play - wait for it to come back to the 21 to short
Other factors - below 200 DMA, bearish momentum and similar moves in the past
Stop loss - 70 (cost of the put) + Time stop is 30 days (mar expiry)
Other risks - Market becomes extremely bullish
NSE PVR Short is a good idea for the coming weak as the stock has shown a breakdown - target 1400 is likely if the nifty breaks below 17300 - continue to hold long puts / short outright with stop loss at 1600
Trade active:
We have a 1400 handle and i have taken 50% of my position off. Hold the rest for target of 1400
Trade active:
Retake puts that one squared off - this one is giving another chance to reload on puts for April.
The recent bounce above 1550 didnt clear the 21 day EMA - so it is still in a bearish phase
Trade closed: target reached:
* Worked out well as target of 1480 odd achieved. All i have left on are some short call spreads - taken off all the puts

Best advice ever - Cut your position size by half.

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