Rel Cap
CMP 600.25
The stock has seen a nice bounce from the lows of 523 to 605 so far
How ever We can also observe a Flag & Pole pattern
& this is a conitnuation pattern where
Weakness might come in if it goes below 584
Also from charts one can observe that 600-622 is an important zone to watch out for as it might act as resistance
Target zone in that case 568-558 initially where it will need further review
Stop a tad above 622
A safer strategy :
One may consider selling
Reliance Capital June series
Option Type: Call Option
Lot Size: 1500
Strike Price : 610
CMP: 14.50
Profit is limited to 14.50 points per lot but importantly it protects from losing money for rise up to 624.5 till expiry day. That's a protection of 24 points per lot and that's a good protection taking care of Stop loss level too...
Do review your trading plan and plan your trade accordingly
Take care & safe trading...!!!