WIPRO LTDShort
Wipro follow up on previous post
Updated
As discussed in previous post Wipro if comes around 568 we will review the scenario again.
Well the stock has made an exact high of 568 so far and is currently trading at 564
I have again opted for taking Short Position through Call option. This time the strike price is
Wipro June series
Option Type: Call option
Strike Price: 570
Sell Price: 9.4
If Wipro closes above 584 then will take it as Stop loss for the strategy
By the way, strategy gives inbuilt loss protection for rise in stock price up to 579.4 till expiry day
Plan ur trade accordingly...
Take care and safe trading...!!!
Well the stock has made an exact high of 568 so far and is currently trading at 564
I have again opted for taking Short Position through Call option. This time the strike price is
Wipro June series
Option Type: Call option
Strike Price: 570
Sell Price: 9.4
If Wipro closes above 584 then will take it as Stop loss for the strategy
By the way, strategy gives inbuilt loss protection for rise in stock price up to 579.4 till expiry day
Plan ur trade accordingly...
Take care and safe trading...!!!
Trade active
As per Fibonacci retracement theory 574 is another important resistance levelwhich represents 61.8% retracement
Trade closed manually
Wipro 570 Call Option updateRemember we had
Sold Call option @ 9.4
CMP 2.30
That's a profit of 7.1 points per lot
Take care & happy trading...!!'
Njoy ur weekend :-)
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