ICICI Pru Life: Looking weak
ICICI Pru Life
Closing Price 472.35
Observation
- Prima facie the stock looks likely to have made a triple top around 537
- the stock is trading below it's 20 Day EMA and 50 day EMA
On any rise the zone of 480 -488 may be crucial for the stock. Any rejection in this zone can signal signs of weakness and if 469-463 zone is taken out it may potentially fall up to 447 / 436 / 418 odd levels
Given the set up one may consider the following Bear Call Spread strategy
Sell 480 Call option preferably around 24
Buy 520 Call option around 8
Maximum profit if stock closes any where below 480 on 25 Feb 2021.
Stay cautious if closing is above 485 levels on daily charts.
Take care & safe trading...!!!
Closing Price 472.35
Observation
- Prima facie the stock looks likely to have made a triple top around 537
- the stock is trading below it's 20 Day EMA and 50 day EMA
On any rise the zone of 480 -488 may be crucial for the stock. Any rejection in this zone can signal signs of weakness and if 469-463 zone is taken out it may potentially fall up to 447 / 436 / 418 odd levels
Given the set up one may consider the following Bear Call Spread strategy
Sell 480 Call option preferably around 24
Buy 520 Call option around 8
Maximum profit if stock closes any where below 480 on 25 Feb 2021.
Stay cautious if closing is above 485 levels on daily charts.
Take care & safe trading...!!!
Dagangan ditutup: sasaran tercapai
Target of 418 achieved to perfection
Happy trading...!!!
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.