ICICI Bank: Will it follow the channel

Jun 8, 2017

ICICI Bank:
Cmp 321.80

Observation

- On daily charts The stock looks primarily in up trend

- however it is also at the upper end of the channel

- Traders can look to sell for target of 308 / 303 / 298

- Do note as primary trend is up Buying should be considered on dips or if stock gives fresh sustainable breakout above 328

One may consider

Selling

ICICI Bank 320 Call Option around Rs 9

Max profit potential
2500 * 9 = Rs 22500/- per lot



The strategy limits the profit but importantly provides loss protection for rise in stock up to 329 till expiry day


Plan your trading accordingly...!!!

Take care and safe trading...!!!

Jun 15, 2017

Trade active

The stock has slowly come down

ICICI BANK 320 Call option too on expected lines has seen almost 50% erosion on its premium value

From 9 to currently 4.9

That's a profit of 4.1 points per lot so far ( i.e. a profit of tad above Rs 10,000/- per lot so far)

Take care & happy trading...!!!

Jun 23, 2017

Trade closed: target reached

Note: ICICI Bank gave a 1::10 bonus...and the record date was 21 June 2017

So Adjustments have been made accordingly...

ICICI Bank Call option Strike Price
Earlier : 320 Call option
Now : 290.90 Call option

Lot size Adjustment

Earlier: 2500
Now : 2750

Sell price Adjustment
Earlier: 9
Now : 8.18

CMP of adjusted 290.90 Call option

is Rs 1.5


Thats a profit of 2750 * (8.18-1.5) = 2750 * 6.68 = Rs 18370/- per lot...

Book profits and enjoy your weekend...


Happy happy trading...:-) !!!