Given the set up one may consider to sell 25 Nov expiry 260 Call option currently around 7
Strategy has max profit potential of Rs 47250- per lot and has in built loss protection for a rise up to 267
Take care & safe trading...!!!
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
@indiamarketoutlook, Tata Power looks like would get included in the MSCI index rejig, and generally this enables foreign/institutional funds to come in, still SHORT view??
samratkakkar
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What would you say should be the stop loss ? Or stock level to exit the position?
indiamarketoutlook
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@samratkakkar, A quick move and close above 250-252.50 would make me skeptical and if a closing is above 257.50 no matter if movement is quick or slow then exit.
@samratkakkar, Fibonacci levels worked out very well. Since the movement was slow, strategy was never in danger. People can say I am lucky... I say Follow Technical Levels... manage your risk part well and chances are you might start feeling lucky as well...☺☺
Happy trading....!!!
samratkakkar
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@indiamarketoutlook, not saying it was a lucky trade. Was appreciating your call since you made it when the stock was trading at 240 with almost 2 weeks to month end expiry. Quite frankly, have been following your other calls also. I'm keen to learn and I'm willing to invest time. Let me know if you are open to guiding / training / mentoring.