ICICI Pru has hit the long term resistance at 480 and retraced a good portion of it's previous upmove. Now after consolidating and taking support @ 440 it looks ripe for another shot towards 500
Makes for an excellent swing trade :
Buy for Tgt @ 475, SL @ 435
These are just my 2 cents on the matter, please trade with caution and at your own risk
ICICIBANK has been oscillating between 340 (Strong Support) and 385 (Strong Resistance). In the absence of any major triggers, it is expected to trade range bound
Here is a credit-neutral strategy for August
Bull Call Ratio Spread:
BUY 1x AUG 360CE
SELL 1x AUG 380CE
SELL 1x AUG 390CE
Cost of spread ~0
Profit :: Stock closes beyond 360 at expiry
Max Profit ::...
VBL is showing strong momentum. Currently it's in the 4th Wave of an Elliot Impulse structure. The 38.2% Fib Retracement also coincides with a long term support at 676, which should serve well for the end of wave 4.
Taking wave 3 level as a basis for minimum up move, that puts the target at around 750, which is also where the upper trend line converges.
Bharti Airtel has been in consolidation mode for weeks now, the big players are accumulating their long positions. Currently we're at the lower end of the flag channel ~560
Since we don't know how much longer it'll take for the upmove, we can use a BullPut Spread meantime to chow on Premium. A very strong support is present at 530
SELL AUG 550PE
HDFC Bank appears to have completed the EW Impulse Structure. Wave 5 has probably made a top at 1125. The momentum has slowed considerably during the previous week. The volume trend has also diverged from the last leg of the rally. It is highly likely that it'll consolidate / retrace with profit booking, until Q1 Earnings release on July 19th
From May low of 825,...
The stock has been range bound between 250 and 280 since June. Without any external triggers, we expect it to trade within this range until July expiry
Iron Butterfly is a neutral strategy whereby we profit as long as the stock remains within the strategy range
Petronet Iron Butterfly i.ibb.co :
Buy 1Lot 250 Put 30Jul ~ 6.25
Sell 1Lot 265 Put 30Jul ~...