The stock has given a breakout on charts and potential target for the set up can be 5600 / 6100 in weeks to come
Given the set up,
alternatively one may consider the following strategy
31 Dec expiry
4800 Put option
in the range of 50-60
Lot size 200
Max profit potential Rs 10000/- to 12000/-
Take care & safe trading!!!
4800 Put option expiring worthless giving total profits with minimum risk
Trust you all found it useful...
The idea is, if Ultra Cement co, holds above the green line till 19 Dec, then the probability of moving towards 6100 in the next 7 weeks increases considerably
My data system suggests a neutral stance in this counter as of now and
Dips towards 5080 - 5108 levels likely to act as support.