Umm.. First You have uptrend break confirmation. Second You have double top confirmation. OI support strong selling too. Only prayer is it should consolidate as we have monthly expiry. Otherwise, it will trigger havoc.
As per charts. If it doesn't trigger. Don't take.
I never like this stock. I will not touch in both cases. Posting as someone asked :) It will trigger massive sell if the sell triggers as its struggling to move up further and will likely have havoc unwinding on trigger! But the Trading Plan I posted here is good and sound. If buy triggers the SL will be sell triggering point and vice versa.
Its a "late post". So please wait for a better entry. The scrip is too strong; So high chance you will get re-entry. I will keep the SL at day's high with some points. (Day high can get SL hunted.)
Sell 22200PE Sell 22600CE Stop Loss - 120 pt.
Sell 22100PE + Buy 21900PE Also You can make it Iron condor by selling 23000CE and buying 23200CE
Sell SBIN 200PE at 4.9 If it falls below the BEP, I will simply take delivery and wait; SBIN is consolidating at this place since long time. Sell PE means Bullish View.
As per charts. Also note the SL hunting note.
Apart from the main idea of positional buy, You can also do - Axisbank Put Spread Idea - BUY AXISBANK 24 Sep 390 PUT SELL AXISBANK 24 Sep 420 PUT Max Profit ₹6,180 Max Loss ₹29,820 BEP 415
ICICI's distribution is not strong like Axis bank at all. On top of that - the Scam lady's husband got arrested. I may initiate a pair of trading between ICICI Bank Sell and Axis bank buy too. Anyways, it is a definite intraday sell if triggers! Will not buy it if PDH breaks.
If it triggers, I will sell futures only in intraday. I am baised and having long term bullishness in mind. (or consolidation.) But I will sell 480CE.
Closing 1400CE from past trade and selling 1360CE at 40. The price action setup of HNS did not trigger at all. So, if you want to sell, You should actually wait.
I already hold a short. I am thinking to overlot if the neckline breaks. Nexkline = This area acted as a resistance once. Now acting as support.
Call Spread Sell 24500CE + Buy 24700CE Put Spread Sell 22000PE + Buy 21700PE
As per charts. Keep SL at the day's high if the trade triggers.
SELL RELIANCE 24 Sep 2200 CALL BUY RELIANCE 24 Sep 2340 CALL Upper BEP = 2229 Max Profit = ₹14,746
Sell 23500PE + Buy 23300PE Betting on Upside because World Markets shooting up + OI Build up.
I am not advocating to buy futures. I sold 480PE. When it goes up, I will mostly sell 520CE. If it falls down and breaks 460, I will sell 480CE. Will keep you updated.