Reliance: Chart set up and trading strategy

Reliance

- We see the stock in a consolidation phase since Sep 2020
- On the lower side the blue line zone has provided support

- the green line area is the ultimate support level....

Given the set up, and the the stock being closer to support levels,

one may consider selling Reliance 27 May expiry
1800 Put option around 35- 40 odd levels

Max profit potential in the strategy is Rs 10000/- per lot.
More importantly, the strategy provides a risk cover for a fall in stock price up to 1765-1760 odd levels.

Take care & safe trading....!!!

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Disclaimer:
- The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- Use this for educational purpose
- Any decision you take, you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- if trading in F&O, understand that F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be

Comment:

Reliance 27 May Expiry1800 Put Option update

It gave ample opportunity to sell the Put option in the range of 35-40. High made after recommendation 39.25

CMP 20

The strategy is in profit currently

Happy trading...!!! 😊

Trade closed: target reached:

Reliance 27 May Expiry 1800 Put Option update

The strategy to sell Reliance 1800 Put option in the range of 35-40 has given the desired results.

CMP 1

We sold at a higher price, now buying at rock bottom price. So the entire Premium is in the pocket. Consider to book profits and enjoy...!!!😊

Happy trading...!!!