Wipro
CMP 347
We observe
- Wipro chart has done a gap filling activity
- trading above 20 day EMA currently around 338
- 365 important gap resistance level
Strategy: Given the chart set up
One may Consider selling Wirpo November expiry Call Option
Strike Price 360
In the range of 4.6 - 5
(CMP 4.6)
Lot size 3200
A 3 day close below 20 day EMA would increase the probability of a fall up to Target 1
The strategy covers risk of rise up to 364.60 on expiry day
However I would be cautious if Wipro gives a close above 353 in Equity Market
Take care & safe trading...!!!
Disclaimer:
- The view expressed here is my personal view
- Use this for educational purpose
- Any decision you take you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be
CMP 347
We observe
- Wipro chart has done a gap filling activity
- trading above 20 day EMA currently around 338
- 365 important gap resistance level
Strategy: Given the chart set up
One may Consider selling Wirpo November expiry Call Option
Strike Price 360
In the range of 4.6 - 5
(CMP 4.6)
Lot size 3200
A 3 day close below 20 day EMA would increase the probability of a fall up to Target 1
The strategy covers risk of rise up to 364.60 on expiry day
However I would be cautious if Wipro gives a close above 353 in Equity Market
Take care & safe trading...!!!
Disclaimer:
- The view expressed here is my personal view
- Use this for educational purpose
- Any decision you take you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be
Trade closed manually:
Wipro has closed above 353 in cash price
360 Call Option update: 2.4
Recommended selling when price was at 4.6
Current status
3200*(4.6 - 2.4) = Rs 7040/- per lot
Although the stock price movement happened in the direction of SL mentioned, yet our strategy is still profitable.
Learn the art of managing your risk and increase your chances of being profitable...!!!
360 Call Option update: 2.4
Recommended selling when price was at 4.6
Current status
3200*(4.6 - 2.4) = Rs 7040/- per lot
Although the stock price movement happened in the direction of SL mentioned, yet our strategy is still profitable.
Learn the art of managing your risk and increase your chances of being profitable...!!!
