Bajaj Auto - Critical Decision Level @3100Bajaj Auto has been following a clear trend line with topside resistance. A parallel trend line with bottom matching makes it a 339 point channel.
Ignoring the covid impact from April to July the stock has been properly following the channel and gives a great call / put buying opportunity with minimal time decay to premium as it arises just a week before expiry at closing price in the range of 3100.
If the closing is above 3100 call for 3200 can give excellent return considering just 7 days to expiry and because it's a long trend channel break out the upside move shall be fast so results in prices can be seen before November expiry.
If it retractes from 3100 then puts shall be available much cheaper rate due to last 3-4 days upwsing and hence put of 3000 can show immediate result before November series expiry.
