Ultratech Cement (NSE:ULTRACEMCO): Inverted H&S in weekly chart
Trade Plan:
Cash: BUY at CMP. Add more at 6900 Place SL at 6615. Revise the SL at 7350 when share touches 7650. Further, if share breaks out 7800, tighten the SL to 7600. Book long at 8000.
Option:
1. Naked Call Buy: Ultratech 7300 Jan-25 call option at 100, with SL:65, T: 150. Lot: 100 shares. (So calculate the risk also if you want Options).
2. Bull Call Spread: BUY 7200 Jan-25 call. SELL7800 Jan-25 call. Breakeven is 100 point upwards with 1:3 RR. Margin: 25k.