Hi All ,
No naked put/call /buy /sell , no over leverage and buying of 5-10 lots , just stick with 1 lot.
Following is strategy:
Buy April 105 call @ 5.75
Buy April 105 put @ 5
Total cost 10.75 , What say folks it won't move 11 rs up or down in April ? Seems one of the option writer is wrong , but let them sort it out . targets mentioned on chart...
GRANULES weekly chart (reference purpose only).
Expecting the major trend to continue upwards and dips can be buying opportunity.
Please use this analysis for your reference as a supplement to your own analysis.
The stock has formed a beautiful Ascending Scallops pattern and closed above the pattern High yesterday thus triggered the buy signal. The patterns is very reliable so one can take advantage of it. One can expect the target of above 145. Theoretically one should provide the stop loss below 124 on closing basis however I would trade it with Stop loss of 127. One...
RSI Divergence in double top area is showing the potential weakness. The pseudo upthrust bar yesterday with big volume is another confirmation for the potential short today with Stop Loss just the high of the previous day bar.
The stock has formed a beautiful MPL and Action Reaction method is suggesting that price may get reaction at this level. One can short the stock now with appropriate stop loss and can expect the price range 116 - 114. RSI is coming out of Overbought zone confirming the potential short.