One may plan to sell 600 or above strike rate CE of TVSMOTOR on positional basis. Either as a spread or naked as per their risk appetite.
R2R is not much as your spread may eat some premium.
Will go Long below 177 for 10%return on capital with SL of 170.
Minimum R2R of 1:2.5 to 1:3.
According my my observations, this level was being accumulated for a very long time.
Intraday traders may search for long entry in PNB till it waha 38.2 level
& is it crosses & closes above it, one may again re-enter in Intraday long traders till 42 level.
Please maintain atleast R2R of 1:3
