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Reliance: Support Resistance and trading strategyReliance The Chart set up The stock has been sideways for the last 8-9 months. The stock has fallen approximately 9% from the top in the month of December so far. Important levels on the downside which has the potential to provide support S1 - 2467-2485 S2 - 2405-2420 Important levels on the upside which has the potential to act as resistance R1 - 2565-2588 R2 - 2632-2680 _____________________________________________________________________________________________________ My Trading strategy Given the set up, my trading strategy for Reliance: Short Strangle strategy for January series Sell January 2023 expiry 2640 Call option & 2400 Put option Net incoming 52 points _____________________________________________________________________________________________________ Gain potential and understanding risk profile Max profit potential of Rs 13700 per strategy lot, if Jan expiry day close is anywhere between 2400-2640 ( roughly 12% ROI on margin requirement) Loss in strategy, if Reliance closing is above 2692 or below 2348 on 25th Jan 2023. _____________________________________________________________________________________________________ My Risk Management levels Review points for managing risk 2467 / 2420 on the downside 2580/ 2612 on the upside These review points are based on support and resistance levels identified in chart analysis and accordingly trading strategy has been curated which should give ample time and scope to adjust / exit in case view of rangebound movement is getting invalidated. Apart from these, I would be also monitoring Crude oil price movement. _____________________________________________________________________________________________________ Hope the analysis and explanation of trading strategy helps you plan and manage your trade. Do let me know if you find the analysis and insights helpful. To trade with me, Do Like and Follow for getting more trading ideas like these...!!! Disclaimer - The view expressed here is my personal view - Past performance is not a guarantee for future predictions - I have been wrong in the past and can be wrong again in future too - 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 - if trading in F&O, understand that F&O trading involves risk - Do take proper risk management measures - Do your own analysis and consult your financial adviser if need be
NSE:RELIANCE
by indiamarketoutlook
3
Laurus Lab: Important Support and Resistance levelsLaurus Lab we are looking at weekly chart of Laurus Lab Ltd the zone of 436-463 has seen buying interest on previous occasions Target 1 for the current set up comes to around 583-604 zone Target 2 - 700-720 odd levels Time frame 2-3 years A word of caution: Below 435 next important support is around 340-370 zone. So plan your trade accordingly...!!! This is from Positional point of view for Longer time horizon Take care & safe trading...!!! Like and follow for more ideas like these
NSE:LAURUSLABSLong
by indiamarketoutlook
REDINGTON LOOKS STRONG AFTER GOOD YoY resultREDINGTON after announcing good YoY result yesterday opened with a gap up and is trading above all R3 (Fibonacci). it has entered into a pervious channel that i had marked before the Small-Cap fall that happened on Wednesday. today it took support at the lower green support line and moved back up. also DAILY Heikin Ashi shows strength. keep an eye out for a breakout above the red line, or a break-down below the green line.
NSE:REDINGTON
by UnknownUnicorn21320139
Option Strategy before TCS Quarterly results on 11.01Option strategy in TCS ahead of result on 11.01.18 1. Sell 2750 call at 47 and 2650 put at 38 each one lot 2. Buy 2800 call at 31.90 and 2600 put at 23.95 each 2lots Funds requirement Approx 6675 Margin required = 140000 Time of holding: 3 to 5 trading days. Book profit if price fall below 2550 or rise above 2830. Book loss if consolidate in the band of 2650 to 2750 post result. The strategy is based on the assumption that price may have big move after the results but if it does not happen and it remains in the range there would be small loss.
NSE:TCS
by praveen.bhatiya
3