Reliance Industries expiry around 1150

Since, it has tested its support at 1100 and have zoom passed 1120 levels, next resistance is @ 1132 and crossed that it can move quickly to 1150 level. The level of 1150 is expected by Thursday expiry.

My trading strategy - Buy two calls of 1140 priced currently around 4.20 with lot size of 500 each. Total investment 4200 with expiry date of Nov 29, 2018. Expiry price 1150 the call value will reach 10. This will result in profit of 6000 which is return of more than 100%. Stop loss 2 which means loss of 2100. The risk reward ratio is 1:3. Quite a profitable trade go for this.
Nov 28
Trade closed: target reached: Target achieved call @ 12 and reliance reached 1150. Enjoy the profits.


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