Dewan housing has already signaled by on RSI but we were waiting for 1 more day's confirmation. Bollinger band has supported at -2 SD . We'll trade it as mean reversion as market has bounced sharply from 60 and now trading near 78 ( below long term trendline on monthly chart).
Buy only in dip at 75-73 with stop loss below 67 for target 84 & 91
Let's bring home money folks , You can execute the trade on Friday or Tomorrow.
Refer chart : classic Text Book pattern.
No Naked trades , Use strategy :
1) Buy 600 Dec calls , sell 620 Dec calls --- My preference.
2) Buy Dec future , Sell 600 Dec call
3) Sell Dec 600 Put , Buy 560 Put
4) Buy 2 lot 600 call , Buy 1 lot 580 put
check what strategy suits you...
