Torrent power is respecting the trendline beautifully. It can reverse from here for immediate targets of 482, and above that, it can easily go back to 508. Keep strict sl below yesterday low or @465 on a closing basis.
Selling PE is bullish view.
Betting on 430PE on Torrent Power. I got at 7 yesterday. You can take 420PE at 5. 430PE is illiquid.
I will take the CE bet later on the month.
One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells at "where" to act in "what direction. Unless it triggers,...
This is an extension to the analysis posted before.
The stock has already given a 1:3 RR.
The power sector is seeing huge inflows and that is expected to continue.
Torrent power saw extra-ordinary buying volumes with low volume pullbacks.
Time horizon : short term-medium term.
Sell 480CE Call options based on -
2. Max Pain Deviation
If it touches 480CE, I will short 460PE to increase the BEP and make the delta same to as it is. (But I will have negative delta).
One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells at "where" to act in...
Torrent Power Ltd. engages in the business of power generation, transmission, and distribution of electricity. It also focuses on the manufacture and sale of cables. The company was founded on April 29, 2004 and is headquartered in Ahmedabad, India.