indiamarketoutlook

ICICI Pru Life: Looking weak

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indiamarketoutlook 已更新   
NSE:ICICIPRULI   ICICI PRUDENTIAL L
ICICI Pru Life
Closing Price 472.35

Observation
- Prima facie the stock looks likely to have made a triple top around 537

- the stock is trading below it's 20 Day EMA and 50 day EMA

On any rise the zone of 480 -488 may be crucial for the stock. Any rejection in this zone can signal signs of weakness and if 469-463 zone is taken out it may potentially fall up to 447 / 436 / 418 odd levels


Given the set up one may consider the following Bear Call Spread strategy

Sell 480 Call option preferably around 24
Buy 520 Call option around 8

Maximum profit if stock closes any where below 480 on 25 Feb 2021.

Stay cautious if closing is above 485 levels on daily charts.


Take care & safe trading...!!!

交易结束:到达目标:

Target of 418 achieved to perfection

Happy trading...!!!

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