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RBLBANK

RBL BANK Breakout RetestUnderstanding the market structure is an key element in Technical analysis. Rbl Bank has made this Head and shoulder pattern at a key level which is marked as black Horizontal line. Once it broke both the area Which is same in this case Give us double confirmation to go long In case if someone miss the breakout entry and who are not aggressive trader they can enter at the Retest! If you want to learn more price action strategies and setup live with us Do contact us!
NSE:RBLBANKEducation
by Rv-The-Trader
RBL Bank: Chart view & strategyRBL Bank Closing Price 190.65 - On daily charts the stock looks over-bought - 158-168 may act as support levels - resistance at 208-212 levels and above that 230 Given the chart setup one may consider buying on dips ________________________________________________________________ Alternatively, one may consider a Short strangle strategy for the stock Consider selling RBL Bank 150 Put option ( Closing Price 6.65) & 230 Call Option (Closing Price 9.25) A combine Premium collection above 15 may considered Lot size 2600 Max profit potential 2600*15 = Rs 39000 till 30 July expiry Yield potential of 12.6% approximately on capital deployed Loss in strategy if RBL Bank closes above 245 or below 135 on 30 July 2020 Take care & safe trading...!!! ________________________________________________________________ Discliamer: - 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
NSE:RBLBANK
by indiamarketoutlook