This idea is only valid for Nov series.
SUNTV has retraced to 78.6% and is at PRZ with two red candles indicating resistance.
But it has formed a bullish flag. So expecting a minor pull back to support at 860 before further up move.
Go short at or below 872 with strict SL at 883 for T1 of 860.
Alternatively one can go Short on 920 CE along with 840 PE.
For long term one go long above 825 for trgts above 1000 which is the ultimate target of Bull flag.
SUNTV has retraced to 78.6% and is at PRZ with two red candles indicating resistance.
But it has formed a bullish flag. So expecting a minor pull back to support at 860 before further up move.
Go short at or below 872 with strict SL at 883 for T1 of 860.
Alternatively one can go Short on 920 CE along with 840 PE.
For long term one go long above 825 for trgts above 1000 which is the ultimate target of Bull flag.
Trade closed: target reached:
Stock closed at 869 after making low of 864. Options expired worthless fetching good returns.
Comment:
Traget reached and beyond