Channel Top is the target - If closes StrongPrice formed a channel pattern and now closed above the resistance levels so one can expect the price to reach the Top of the channel.
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DLF trade ideas
DLFNote:
Avoid the stock if a big gap up or gap down is seen
Enter after the breakout happens and not before it
Do not chase the market, i.e., do not get involved in late entries
Only enter with strict stop-loss and target
This is not a recommendation and is for educational purposes only.
always follow risk-reward and quantity management for the 100% of the times
The above mentioned idea may not work, so beware of the risk you are taking
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Happy Trading!!
DLF: Chart set up and viewDLF
CMP 165.5
We observe
- the stock has minor resistance around 167 odd levels
- major resistance around 173 odd levels
- Weakness may be seen if stock closes below 162 for 3 consecutive days
- Target in that case could be placed around 154-152 levels initially
Given the chart set up, one may consider selling DLF November expiry Call option
Strike Price 170
in the range of 6.5 - 7.5 (CMP 6.6)
Lot size 3300
The strategy covers risk of rise up to 176.5-177.5 on expiry day
However I might be cautious if DLF closes above 168
Take care & safe trading...!!!
Disclaimer:
- 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