BPCL : Break out trade potential...

31 thg 12, 2020

BPCL
CMP 380.50

- since June 2020, we observe, BPCL consolidating in channel and then giving a spike up or down
- channel zone is nearing breakout time zone
- momentum might be seen above 389
- multiple support between 355-368

- at CMP & on dips the stock provides good risk::reward ratio to go Long for targets of 408 / 440 / 473
- Stop loss if trades below 353
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Alternatively one may consider selling 28 January 2021 expiry
360 Put option between 9-12 (CMP 9.5)
Lot size 1800

Max profit potential Rs 16200/- - Rs 21600/- per lot

Inbuilt Loss protection in strategy for a fall in price up to 351-348 till January 28, 2021

Take care & safe trading...!!!

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Disclaimer:
- The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- 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
- if trading in F&O, understand that F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be