Basis: Siemens has given a good box breakout after nearly 8 months consolidation and supposed to be looking good. Could touch 3000 soon. Based on the situation below spread can be created for Aug'22.
Idea: Bull spread. Buy 2900 CE 1 lot and sell 3000 CE 1 lot for R:R of 1:1.52.
SL: If Siemens starts breaking down below 2800 exit. (Dont hold for too long.)
Target: Exit with profit as soon as it touches 3000. (Dont hold for too long.)
If above is risky then one can buy Siemens in cash at current levels for target of 3000 with SL of 2790.
Thanks
(Above is for education purpose only. Pl consult your financial advisor before investing.)
Idea: Bull spread. Buy 2900 CE 1 lot and sell 3000 CE 1 lot for R:R of 1:1.52.
SL: If Siemens starts breaking down below 2800 exit. (Dont hold for too long.)
Target: Exit with profit as soon as it touches 3000. (Dont hold for too long.)
If above is risky then one can buy Siemens in cash at current levels for target of 3000 with SL of 2790.
Thanks
(Above is for education purpose only. Pl consult your financial advisor before investing.)