Update:
Booked profit in most of the positions and holding TATASTEEL 420 CALL and hoping it to do something extraordinary!
From OI 420 seems to be very strong resistance.
Also trend-line resistance around 425. Perhaps stock will not go beyond 420 in this series and I have to forgo my premium.
Market is in uptrend.
It will stay so perhaps till Delhi poll results. If BJP does well on February 10, NIFTY will find reason for further up-move.
As option trader we should able to find low risk strategies.
One of the good strategy could be the trades in RPOWER.
Stock is trading near demand zone.
OI table and buying with high volume on Friday, shows increased interest of traders. Stock is also trading above key averages.
One can select one of the option strategies below:
1) Buy 70 CALL of RPOWER around 1.7-1.8 of February expiration. Maximum loss around 7000/- but unlimited profit potential.
Or
2) Buy 70 CALL of RPOWER around 1.7-1.8 of February expiration and sell 75 CALL of RPOWER around 0.90-1.00 of February expiration. Here maximum loss could be around 4000/- and maximum profit potential around 17000/-
Disclaimer: This blog does not take any responsibility of your profit/loss.
Booked profit in most of the positions and holding TATASTEEL 420 CALL and hoping it to do something extraordinary!
From OI 420 seems to be very strong resistance.
Also trend-line resistance around 425. Perhaps stock will not go beyond 420 in this series and I have to forgo my premium.
Market is in uptrend.
It will stay so perhaps till Delhi poll results. If BJP does well on February 10, NIFTY will find reason for further up-move.
As option trader we should able to find low risk strategies.
One of the good strategy could be the trades in RPOWER.
Stock is trading near demand zone.
OI table and buying with high volume on Friday, shows increased interest of traders. Stock is also trading above key averages.
One can select one of the option strategies below:
1) Buy 70 CALL of RPOWER around 1.7-1.8 of February expiration. Maximum loss around 7000/- but unlimited profit potential.
Or
2) Buy 70 CALL of RPOWER around 1.7-1.8 of February expiration and sell 75 CALL of RPOWER around 0.90-1.00 of February expiration. Here maximum loss could be around 4000/- and maximum profit potential around 17000/-
Disclaimer: This blog does not take any responsibility of your profit/loss.
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