BHARTI AIRTEL LTDShort
Bharti below 200 with a consolidating flag
Updated
Bharti breaks key support and ends below 200. Take an itm put as iv is multi month low. 760 put is just 3 bucks if extrinsic value
Keep a stop at 760 which is the 200. The put will lose 50 percent at the stop. Target of 710 which is the next logical support.
Bonus, bharti coming out of a multi day squeeze and flag, which is fairly unique
Keep a stop at 760 which is the 200. The put will lose 50 percent at the stop. Target of 710 which is the next logical support.
Bonus, bharti coming out of a multi day squeeze and flag, which is fairly unique
Trade active
Continue to hold via short puts - however very close to the time stop loss of 10 days. if bharti does not turn lower than 760 by March 15 will close this trade and take the lossNote
Continue to hold as now turning down from 770 back to 760, just shorting nifty was a better trade - shorting defensive stocks in a bear market is a bad ideaTrade active
755 on the stocks and puts are now ITM - a very slow and painful trade indeed. Target 740 and will close there as thats a very long term resistance from which the stock has bounced a few timesTrade closed: stop reached
Stop hit - exit trade
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