TradersVenue

RBL Bank Bullish Strategy

NSE:RBLBANK   RBL BANK LIMITED
RBLBank had a decent correction from its high 716.4. Stock almost tested its major support level of 438-444 and gave a bounce back. Stock displaying symptoms of early signs of reversal. Stock has potential to go upto 495/527/553 retracement levels. However it may be a time taking journey. Looks good to deploy below strategy with breakeven of 418-529.8. Till 400 it has almost no loss. Further adjustments can be done as stock moves.

+1x 29AUG2019 450CE - ₹ 26
-1x 29AUG2019 470CE - ₹ 16.8
-1x 29AUG2019 500CE - ₹ 7.8
-1x 29AUG2019 420PE - ₹ 8.35
+1x 29AUG2019 410PE - ₹ 6.9
-2x 29AUG2019 400PE - ₹ 4.9
Max. Profit ₹ +35,820
Max. Loss ₹ Undefined
Breakeven 410.2-529.8
PayOff: http://bit.ly/2YuL03p
Estimated Margin₹ +413,857
Comment: Disclaimer: Objective of this posts is to educate and help members earn profit from trading. I am not a SEBI registered analyst and strongly recommend people not to trade in NSE/BSE/MCX market basis above recommendations. All the stock ideas/views are momentum picks chosen using technical indicators and for education purpose only. And my views may go wrong. I am not responsible for profit and losses or SEBI audits arising out of the above calls. Stock market trading and investment is subject to market risks. Contact your financial advisor before taking trades or trade at your own risk.

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Comment: Adjustments can be done for each 20 point moves on either sides. If 438 support is broken then you can sell calls of 480/490 Aug CE and even rolldown as situation demands. In case of upmove you can sell puts below 440 for adjustments.
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