There are two trades.
One which initiated at the PRZ and closed on 0.382 level. Second is initiated on today; with today's high as stop-loss with .618 level as the target. Axis is about to post profit today which is estimated to be amazing.
Currently closed the first trade with profit.
Riding the second trade but bought a hedge of Axisbank 520 November CE at ...
Axis Bank Bearish Butterfly
there are 2 trades
one short at 521.70 at completion of our abcd with 536 as SL and target 506
two short below todays candle at 513 with 522 as SL & target 498
Axis bank range bound
Sell 520CE and 490PE
Maximum profit expected is 19,800 if it stays b/w 490 and 520
premium received = 11.8+4.7 = 16.5
safe between 475 to 535
margin required = 1.75L
Scrip can see trend reversal as the bears tried to pull the price down however, bulls manage to regain momentum henceforth, forming hammer at end of downtrend
Price range targeted, mentioned in charts if the scrip manages bullish momentum thereon
TP- 505, 507, 509 and beyond
Hammer Candlestick
Hammer appears in a downward trend indicating a bullish reversal. ...
Axis Bank has formed Symmetric Triangle and it will come down to its support levels of 500 then will retrace to 505 levels.
Go long above 505
Target 1 - 518
Target 2 - 530
Short 520 CE @ 8 .... 8*1200=9600 profit if axis bank stays below 520 at expiry
Short 490 PE @ 1.85 .... 1.85*2500=2220 profit if axis bank stays above 490 at expiry
