Hindalco: Chart setup & trading strategy

Hindalco
Closing price 124.40

- Any dips especially towards 121-119 provides good risk:reward ratio to go long for target of 133 / 136 / 140.50

SL 117

----------------------------------------------------------------------------------------------------------------------------------------------

Alternatively, consider selling Hindalco 25 June 2020 expiry 115 Put option around 4.5 - 5

Lot size 3500

Max profit potential Rs 15750/- to Rs 17500/- per lot
ROI potential 12.7% - 14.1% approx

Take care & safe trading