Sun pharma at the resistance zone. Even if it breaks out, the next big resistance is at 640-650 zone. The stock gave a good move in November and December and is consolidating and trying to break the long-term trend.
The idea is to do a ratio spread by buying 1 lot 640CE and selling 2 lots 650CE. The trade can be managed by selling puts if the stock breaks out. The initial trade has no downside risk and upside breakeven at around 665 with max profit at 650.
Sir SUNPHARMA agli week k andar 625 630 ja sakti h kya?? Maine iska 650 jan ce lya bohot loss hora h .. around 6 points down .. kya kare sir plz siggest
revanthchalamalasetty
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@tanmoyg112, milgayi upmove today. However, 650 CE is a risky bet, can go to zero. use this break and sell 1 670CE and 1 700CE.
tanmoyg112
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@revanthchalamalasetty, sir 50 % recovered..I bought 650 ce at 13 rs and it came down to 7 rs.. today it closed at 10.55 . Ye 13 tak janeka chances hai agli week?
revanthchalamalasetty
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@tanmoyg112, 635 tak possible hai. Uske upar I'm not sure. 650-670 is a huge resistance zone. Sell 670 call to reduce risk. If you have margin sell 2 calls and buy one OTM call to hedge.
tanmoyg112
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@revanthchalamalasetty, sir agar monday ko 630 tak bhi jayega to ye premium 13 rs tak pouch jayega... is there any chances to reach 630... myje profit nehin chaiye sirf mera loss hojayega to kafi hai..just bataya as per chart monday ko ye 630 tak jasakte h??
Please suggest
revanthchalamalasetty
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@tanmoygcan't say bro, I'm a positional trader not intraday.
However 627 might come. I'm not certain. Sell 2 lots 670CE, you wont lose anything if sunpharma closes below 650.