Buy Put 95 Jan contract at Market price when Price in cash Makes 105 tentatively or ideal price should be INR 1.90 and book when price in cash near 95 or as per your comfort ideal booking should be near INR 9.00 , this scrip price will move up to 105 or it can go more by another point , its not an issue , but it has to correct (price correction ) before it make any move , and that would be minimum 95 , so look for the opportunity and trade well
Just my observation about this. 1-) stochastic RSI is over bought zone so the price is likely to come down , not sure when and by how much.
2-) looking at the option chain data , maximum resistance is at rs 110 and support at 100 rs. 2nd set of support is at 90 and resistance at 115.
Max pain price is at 100 rs, its very likely the price will settle around 100 by expiry.
i think your assessment of buying a put option is correct one, lets see how this will pan out in a few days.
Sir in this current scenario bank of india and psu have lots of positive news in terms of loan recovery recapitalization in such scenario can it will hedge with buy side also ??
I-Fund-Trader
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@ganeshrewale, Ganesh Please note these news are used to drive last move , You really dont want to be last buyer at top , I personally do not consider any news but i use specific theory to enter & Exit in the trades i am looking , and i bought PE today @ 1.90 and LTP is 1.85 , now i will hold it to book near 4/6/8 , these are the levels i will book my Option contract , i bought based on my personal ability , You can look to take decision based on your personal views , Thanks
@MoneyRain nice one brother, is this one still good to go? on hourly chart Stochastic RSI shows its already headed into over sold zone but the price is still holding above 100.
I-Fund-Trader
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@imtiaz215, buying future as long is not a good idea , it's in tight range it will crack and snap back then it will push high to take off load short sellers , then turn around , trust me this happens on every chart what matters is how you look at it , options at this stage is expansive let it drop and push up for buying a bit cost effective
Just my observation about this. 1-) stochastic RSI is over bought zone so the price is likely to come down , not sure when and by how much.
2-) looking at the option chain data , maximum resistance is at rs 110 and support at 100 rs. 2nd set of support is at 90 and resistance at 115.
Max pain price is at 100 rs, its very likely the price will settle around 100 by expiry.
i think your assessment of buying a put option is correct one, lets see how this will pan out in a few days.