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DSKF16
Aug 6, 2017 7:01 AM

SBIN: Bharat-22 ETF Series-#4 Short

STATE BK OF INDIANSE

Description

SBIN: 8.6% Weight Second highest, Next to ITC, in NEWLY Launched Bharat-22 ETF .
Witnessing Range Bound Trading.
One Can Short above @ 309.6 to @ 311.50
For Target of @ 300-
Weak Below @ 299
More levels plotted on Chart.
SL: @ 317.60+ (By Closing) or +1% for TSL(Trailing Stop Loss).

Strategy for OPTION Trading:
LONG 305PE @ 8.65 (LTP) + SHORT 300PE @ 6.55 (LTP): Calculative Loss: 2.1 point, Calculative Profit: 2.9
* Watch 1st hour then Enter. Better @ 309+ Spot level.

Disclaimer: Only For STUDY. For Taking Trade Decision Consult Financial Advisor.

LIKE / Comment /Share, If useful & enriched your knowledge.

With warm regards.
DSKF16.

Comment

Today & Yesterday Made HIGH @ 311.80
Mentioned Short @ 311.50
Made a LOW @ 302.55
Achieved TGT #1, @ 304.15

Comment

Achieved Target #2 @ 297.55 (mentioned on Chart)
Made LOW @ 297.50

Trade closed manually

Cover "LONG 305PE @ 13.05 (LTP)" + Cover "SHORT 300PE @ 10 (LTP)"
Profit (from Long 305PE) = 13.05 - 8.65 = 4.20
Loss (from 300PE) = 10 - 6.55 = 3.45
Final profit: 0.75 point => Rs. 2250 / LOT
Comments
Einstein15
ALso, its cup and handle in the making , iff it can hold the "handle_level" that is. A break below handle will be a sell.

DSKF16
@Einstein15, Agreed. I also suggest to sell near @ 311. Top of Handle. I think Friday's trade due to Inner News of BHARAT-22 ETF. some details in "NIFTY: What's NEXT ? Spot & FUT important Levels for 7th Aug '17".
sandy
325-330 is on cards before 12 aug
DSKF16
@sandy, Mentioned SL @ 317.6 & mentioned Sell near @ 311. if you mention about result day & result is Good too, then before as per your view @ 325-330, some panic Sell from punters is also on cards.
So i post one strategy in Option Segment. any one can Vice versa also. (i.e Long @ 310 CE + short @ 315CE) risk reward ratio less han 1.
sandy
@DSKF16, in my view on good result ,stock should fall tamporarily.i am looking for 345+ as well only near to 345 level i would take bear put diagonal spread .for 5 percent downside only.this is my view bro .derivative data is suggesting rare dip below 300
DSKF16
@sandy, Agreed & mentioned in post also "Weak Below @ 299"
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