April-May has shown considerable Upside movement
June - July month is showing consolidation period ...
prices has touched the red zone thrice ==> also showing breakout ( very high volume )
Daily chart is showing evening doji pattern ....
Future price movement can be expected in two ways ..
1. legitimate breakout ... new consolidation zone around 740
... at-max this month 20-25% growth can be their ... 1 July opening 650 --> max 780 - 812 very tough
2. cup and handle formation then after good investor build up takeoff to 740 zone
---> if prices come down ... then expecting the end of handle to be around 660-666 then shoot to 740 zone
trade strategy ...
1 safe one ---> sell 640 PE --> sell at 665 zone
2. somewhat risky --- > sell 640 PE ( at price level of 665) + sell 800 CE right now --> heart of steel require
June - July month is showing consolidation period ...
prices has touched the red zone thrice ==> also showing breakout ( very high volume )
Daily chart is showing evening doji pattern ....
Future price movement can be expected in two ways ..
1. legitimate breakout ... new consolidation zone around 740
... at-max this month 20-25% growth can be their ... 1 July opening 650 --> max 780 - 812 very tough
2. cup and handle formation then after good investor build up takeoff to 740 zone
---> if prices come down ... then expecting the end of handle to be around 660-666 then shoot to 740 zone
trade strategy ...
1 safe one ---> sell 640 PE --> sell at 665 zone
2. somewhat risky --- > sell 640 PE ( at price level of 665) + sell 800 CE right now --> heart of steel require
Trade active:
A healthy breakout has happened --> still retracement can happen
Comment:
As expected touchdown to 665 has come ... strategy has been given use the one your heart desires