Trading further downtrend in TECH M through swing in PUT option
Basic Technical Analysis -
1. Scrip is in a downtrend, following a parallel channel on Daily TF.
2. Recently gave a breakdown from a long term (June'20) trendline.
3. Bounced back from higher TF (weekly) demand zone after breakdown.
4. Other marked DZ (green), SZ (red) levels are respected.
5. 2nd demand zone & approaching 200 EMA might now act as resistance in short term.
Trade a 75min supply zone b/w these two higher TF demand zones.
Options Trade -
1. ENTRY / TARGET as per spot chart - 1325 / 1275
2. SL using spot chart - 1350
3. RR - 1:2
4. Strike Price - TECHM 26 MAY 1260 PUT (little OTM having good OI)
Other considerations -
1. Select strike price & set SL according to option capital needs, your risk appetite & market sentiment at ENTRY.
2. Time based SL not needed as this trade has the possibility to get over in just few days. Still can keep 50-55% of ENTRY - SL (in spot chart) as your SL.
3. Tech Mahindra Q4FY22 earnings is on 12th May'22.
1. Scrip is in a downtrend, following a parallel channel on Daily TF.
2. Recently gave a breakdown from a long term (June'20) trendline.
3. Bounced back from higher TF (weekly) demand zone after breakdown.
4. Other marked DZ (green), SZ (red) levels are respected.
5. 2nd demand zone & approaching 200 EMA might now act as resistance in short term.
Trade a 75min supply zone b/w these two higher TF demand zones.
Options Trade -
1. ENTRY / TARGET as per spot chart - 1325 / 1275
2. SL using spot chart - 1350
3. RR - 1:2
4. Strike Price - TECHM 26 MAY 1260 PUT (little OTM having good OI)
Other considerations -
1. Select strike price & set SL according to option capital needs, your risk appetite & market sentiment at ENTRY.
2. Time based SL not needed as this trade has the possibility to get over in just few days. Still can keep 50-55% of ENTRY - SL (in spot chart) as your SL.
3. Tech Mahindra Q4FY22 earnings is on 12th May'22.
Đã hủy lệnh
Entry didn't trigger due to gap down opening & further fall within the whole week.
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Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.