Wipro view

Jun 2, 2017

Wipro
Cmp 543.5

Will the stock give breakout on upside or fall back again...???

I will go with the odds of falling back over next couple of sessions
However probability will strengthen once it comes below the red line.

515 is the 1st target

568 on upside is my review zone whether to take it as Stop loss or consider to add more short position.

This is a positional play...


Currently I have gone for a conservative short position.

sold Wipro 550 Call option at 7.6.

Profit is limited to 9120 per lot (1200*7.6) but it also gives protection for rise up to 557.6 till expiry and time to adjust in case I'm wrong.

Will consider to add if the stock closes below 536.

Plan your trade accordingly...


Take care & safe trading...!!!

Jun 2, 2017

Trade active

The stock went up from 543.50 to 551.65

& Wipro 550 Call option went up from 7.6 to 10

That's a loss of Rs 2.4 per lot instead of Rs 8.15 per lot

Hope this case also helps in understanding what I meant when I said
"Profit is limited but it also gives protection"...

Take care & safe trading...!!!

Jun 6, 2017

Trade active

Wipro
CMP 564.3

The stock has jumped towards 568

Sold 2 lots of 570 Call Option @ 9.4

if Wipro closes above 582 then SL for this trade strategy.

This strategy has inbuilt protection for rise in stock up to 579.4

Plan your trade accordingly...!!!

Jun 6, 2017

Trade active

Wipro

Makes an exact high of 568 so far

cmp 564

570 Call option update

cmp 8.65