Maruti Paper Trade

Maruti Technical Analysis

Today’s paper trade is on Maruti.

 Maruti Option trade sheet
My view: Bearish to sideways.
The motive of trade: Stock has formed a weekly top and should be sideways negative this week. 26th July is the quarterly result. So, Exit would be before 25th July.
Profit & loss Graph: Maximum profit will be 14500 @ 4300 strikes and  If the stock remains above 4400 then we will lose 120 rupees + brokerage. Our stop loss will be 4200. We cannot hold positions below 4200 as our loss will pick the pace after that point.
Maruti PL chart
Option graph
 Technical reason: Why I have a bearish view on Maruti because the stock has formed a bearish candle on top of a channel. Also, RSI also suggests overbought on the daily chart. See chart below
Maruti technical analysis
Maruti Daily Chart

 

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