Simple & Effective Breakout Trade #NiftySimple things and analysis make money in this market rather than filling your screens with patterns and indicators, A clear breakout is is visible in HUL after few trading sessions in 4 Hour chart , its clear coming out of its range now and heading towards creating new higher highs.
HINDUNILVR trade ideas
Hindustan Unilever from 4 July 2020The stock was moving in sideways channel --> it broke with very much difficulty
It is now showing signs of spring entry ...
Multiple red candle touched the breakout level and now a jump in price is seen ... possibly showed retest of resitance zone ...
Main trade setup can be expected ...
1. Buying ITM CE --> why ITM because if price decrease we don't want to lose to time decay .
2. Selling OTM PE --> this OTM PE can be sell .. price on safe side can be should be below Support Zone (green)
2107-3200 by 18th October ? Weekly graph One of the popular one's with good liquidity , looking good on the lower time frame which i shall upload next.
As for now expecting a touch of the trend line again and range tightening with our friend the 200 day acting as support.
Looking at swing and possible intra day opportunity shall set some alerts for this .