After falling for consecutive 6 days, a bullish pin bar was seen, which clearly suggested that price is getting rejected from bottom.
Today it closed above the pinbar which suggests a reversal with bullishness in Banknifty. If banknifty supports RBLbank can reach target within a week.
Once entry is done and in profit, better to hedge with 180 CE sell to maximize profit and hedge against your view.
With this hedge the protection will be till 163 as 180 CE is currently at 7.55
Disclaimer: I am not a SEBI Registered Analyst. This is for educational purpose. Please take position after consulting your advisor.
Hello. Hope you’re doing well. I bought this stock for 177.3. Should I wait to cross that or I need to average that to a lower price? Please share your view point. Thank you.
LazyBullear
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@soorajs, Averaging a loss trade is never good. Better to sell 180 ce and pocket the premium.
soorajs
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@LazyBullear_Puja, Thank you for the update. take care.
pacific306
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@LazyBullear_Puja, hlo mam i want to learn from u i am beginner
LazyBullear
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@pacific306, sir I am not giving training right now but in case I have any plans would let you know
LazyBullear
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@soorajs, you got your price in case want to exit. Sell 180 ce or 185 ce and hold so you are protected on downside