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
Trade active: T1 - Reached T2-on the way .... keep an eye as results will have dance on both sides... update TSL
Comment: made low of 4470.... update TSL
Comment: T2- Reached
Trade closed: target reached
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