Trading rationale:
Focus on Chemical and Fertilizer stocks till budget,
UPL is best buy in agro chemical space,
Breakout from expanding channel on weekly time frame,
Bullish crossover on MACD & RSI is above 60 suggesting strong trend of the stock,
Option buyers can track 790 CE which is trading at 23.45 with a sl of 16 for targets of 32/40
Swing traders can buy @ CMP: 788 SL: 740, for targets of 850, horizon: 3 weeks.
Focus on Chemical and Fertilizer stocks till budget,
UPL is best buy in agro chemical space,
Breakout from expanding channel on weekly time frame,
Bullish crossover on MACD & RSI is above 60 suggesting strong trend of the stock,
Option buyers can track 790 CE which is trading at 23.45 with a sl of 16 for targets of 32/40
Swing traders can buy @ CMP: 788 SL: 740, for targets of 850, horizon: 3 weeks.
Trade closed: target reached:
Both options target achieved
CMP: 41
CMP: 41