ITC showing positive divergence with RSI and already started moving UP, should fly once it crosses 272 levels SL 247 CB
Targets = it may go back to previous peak levels
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Trade Idea (for Study Purpose)
ITC Dec 270 CE Sell at 2.85 ITC Dec 260 CE Buy at 6.6 lot size - 2400 Max loss Rs 9000 if stays around 260 Max Profit 15000 if stays above 270
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Hedge trade gave good profit when ITC went in our favor however as it turned down still not much of loss so far
ITC 270 CE now at 1.8 ITC 260 CE now at 4.65
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again moving in our direction so Bull call spread in profit now
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staying above 260 still
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now trading above 270 levels, looking good to go back to previous peak levels, 310 320
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282 high so far, keep trailing
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After making high of 290, ITC traced down to 250 odd levels however our SL is still intact so one may go Long with previous levels especially in cash for positional