Wipro: Chart set up & viewWipro
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
