Shriram Transport Buy call, Diagonal Channel breakout
Reasons:
1. Diagonal channel break out
2. Delivery volume is increasing in comparison to day, week and month
3.High Volume
4. Relative Strength
5. Monthly options Stats : 800 and 900 has maximum call writing
Entry Point :
Ideal price is 784, today's high but you can enter at current price
Price Target :
T1 : 805 ( previous 3 month resistance, Highest call writing is at 800)
T2 : 890 (diagonal chart pattern Target price, 200 EMA will come in that trajectory and option 2nd highest call writing is at 900)
Stoploss :
Baseline of diagonal channel
option put writing 700-720
Strategy : Divide your position in 2 phases first up to 805 then above 805
Durtion : by the end of 3rd week of this month
1. Diagonal channel break out
2. Delivery volume is increasing in comparison to day, week and month
3.High Volume
4. Relative Strength
5. Monthly options Stats : 800 and 900 has maximum call writing
Entry Point :
Ideal price is 784, today's high but you can enter at current price
Price Target :
T1 : 805 ( previous 3 month resistance, Highest call writing is at 800)
T2 : 890 (diagonal chart pattern Target price, 200 EMA will come in that trajectory and option 2nd highest call writing is at 900)
Stoploss :
Baseline of diagonal channel
option put writing 700-720
Strategy : Divide your position in 2 phases first up to 805 then above 805
Durtion : by the end of 3rd week of this month
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.