Reliance: Medium ter view

Reliance CMP 1572

The stock is near 2008 highs. It is an important level and is likely to get some respect. Expect some resistance around 1620-1650 zone. In the longer run, any dips towards 1360-1280 will provide good entry opportunity in the stock from long term accumulation perspective...

For the current set up, One may consider the Strategy to

Sell : - Reliance 28-September-2017 Call Option

Strike Price: 1620

Lot size: 500

Premium: 22

Maximum profit potential Rs 11000/- per lot on Margin requirement of Rs 112000/- (approximately 10% yield potential)
The strategy will provide loss protection for rise in stock up to 1642 on September expiry day...
(Thats loss preotection of Rs 35000/- per lot)

We have given important levels to watch out for from medium term perspective...

Do review your trading plan and
Plan your trade accordingly...

Take care & safe trading...!!
Trade active: Reliance 1620 Call option update
Cmp 15.70

Going good...

That's a profit of Rs 3150/- per lot so far

Take care
Trade closed: target reached: Reliance 1:1 bonus was declared in between the series

Pre adjustment details

Old Strike Price: 1620

Old Lot size : 500

Old Selling price: 22

Adjustment post stock bonus

New Strike Price: 810

New lot size: 1000

Selling price: 11

The stock closed September series below 810 at 786.45 giving us full profit of Rs 11000/- per lot

Happy trading...!!!
I am not getting clear view regarding SL, can you please tell what would be the SL for the 1620 CE sold at 22 ?

It is an expiry strategy and the view is the stock should close below 1620 in september series

So if the stock jumps and closes above 1620 in Spot price then one may consider to exit from the strategy...

Remember as suggested the strategy will turn in to loss only if the stock goes above 1642 on Sept expiry day...

We will keep an update on the same if the stock goes above 1600 though...

indiamarketoutlook indiamarketoutlook
@indiamarketoutlook, We are watching spot levels to give us signals and will adjust our strategy in options accordingly...
hotpot64 indiamarketoutlook
@indiamarketoutlook, Thanks for detailed views, and your helpful nature as always :-)
@hotpot64, Welcome & thanks for the appreciation. It means to lot to us!!! :-)
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