ICICI Bank making a long wick on its monthly trend-line. Its also the 100 Day monthly EMA from where it has been bouncing a lot plus its also a major Supply-Demand Zone. Might see a bullish move from here after the monthly candle close.
Consider a Short strangle strategy in ICIC Bank
Consider selling ICICI Bank 30 April 2020 expiry
380 Call option
Lot size 1375
& also sell
280 Put Option
Max profit potential in the strategy: Rs 64,625 (if ICICI Bank in Cash market closes any where between 280 - 380 on 30 April 2020)
In built loss protection in strategy...
The trend lines have been drawn on the basis of previous day reversal levels of the stock along with other market data/indicators. The trend lines are valid for intraday trade on 28/02/2020.
Disclaimer: The chart is posted for educational learning only.
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Key Levels for BANK NIFTY Search >>> OPTIONSCALLFREE on Telegram for more updates
Upper Breakout(IF OPENS GAP UP)~30700
Please trade with caution and consult your financial...