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Short RBL Bank Positional.

Short
NSE:RBLBANK   RBL BANK LTD
After a sustained uptrend, falling RSI with a doji formation on hourly charts, subsequent bearish engulphing candle shows early signs of trend reversal. MACD showing a bearish crossover. Volumes also have dropped a lot. It may be a sign of trend reversal. Good to short it using option spreads with no credit no debit strategy ensuring minimal losses with decent profit. RSI is also falling. Instead of nacked shorting good to use option spreads. Expected target 663/650/628.

+1x 680 PE = 21.45, -1x 660 PE = 13.35, -1x 650 PE = 9.6, -1x 760 CE = 3.30
Comment: Disclaimer: Objective of this post is to educate and help all 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 picks are momentum picks chosen using technical indicators and for education purpose only. 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.
Comment: Expected target 663/650/628 on downside.
Comment: First 2 targets of 663/650 met.
Comment: Given option spread is running with handy 12.6k profit even though stock is trading almost at the same position when the sell call was given. Refer pay off graph for reference.
http://opstra.definedge.com/strategy-bui...
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Comments

Given option spread is running with handy 12.6k profit even though stock is trading almost at the same position when the sell call was given. Refer pay off graph for reference.
http://opstra.definedge.com/strategy-builder/public/5cbfb37b3dcfd479c2fd5774
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