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