Titan - Sell if breaches 1140, buy above 1190.
Titan has formed a flag pattern, can move in either direction once it moves out of this pattern.
Short below 1140, for targets of 1068 - 1039.
If it reverses from lower range of channel, buy above 1190 for a target of 1235.
Option Open interest shows massive buildup in strike 1200 Calls and 100 Puts, a strangle can be sold at these very strikes.
This will ensure a payin of 32.5 per unit or 24375 per lot. Keep a stop Loss of Rs. 40 for this position.
This strangle will keep us in profit within a range of 1067.5 to 1232.5, this looks pretty safe for now, maximum profit will be when Titan will settle between 1100 and 1200.
Short below 1140, for targets of 1068 - 1039.
If it reverses from lower range of channel, buy above 1190 for a target of 1235.
Option Open interest shows massive buildup in strike 1200 Calls and 100 Puts, a strangle can be sold at these very strikes.
This will ensure a payin of 32.5 per unit or 24375 per lot. Keep a stop Loss of Rs. 40 for this position.
This strangle will keep us in profit within a range of 1067.5 to 1232.5, this looks pretty safe for now, maximum profit will be when Titan will settle between 1100 and 1200.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.