UPL - Long

UPL is in downtrend and is taking support at 680.

Keep strict SL as it is against trend.

Go long above 719 with SL at 700 for T1 - 730 T2 - 740 T3 - 745

This requires trade management if it goes south with nifty .

Alternatively one can go short on 680 PE at 5.5 and 760 CE at 7 together for 15000 INR in 13 days.
Dec 18
Comment: As expected it did go south with Nifty.... one can look for reentry again

Options trade is on...
Dec 21
Trade closed: target reached: T2 reached and made high of 744.3
Dec 27
Comment: Options are almost 0.05
Dec 29
Trade closed: target reached: Spot expired at 762 giving good returns on options trade
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