ultracemco - Short idea
The stock is facing resistance at 4600 level after a breakout at 4500 level.
One can go short at or below 4540 with SL at 4600 for T1 - 4500 T2- 4450
alternatively one can go short on 4600CE at 62 and 4400 PE at 30 for 18400 in 8 days.
Keep strict stop loss for the following reasons.
1. Cement stocks are surging with some expectations from budget
2. It is consolidating after a breakout
3. It is against trend.
Please keep options for hedging
One can go short at or below 4540 with SL at 4600 for T1 - 4500 T2- 4450
alternatively one can go short on 4600CE at 62 and 4400 PE at 30 for 18400 in 8 days.
Keep strict stop loss for the following reasons.
1. Cement stocks are surging with some expectations from budget
2. It is consolidating after a breakout
3. It is against trend.
Please keep options for hedging
Trade active
T1 - Reached T2-on the way .... keep an eye as results will have dance on both sides... update TSLNote
made low of 4470.... update TSLNote
T2- ReachedTrade closed: target reached
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