DLF: Chart set up and view

DLF
CMP 165.5

We observe

- the stock has minor resistance around 167 odd levels
- major resistance around 173 odd levels

- Weakness may be seen if stock closes below 162 for 3 consecutive days

- Target in that case could be placed around 154-152 levels initially


Given the chart set up, one may consider selling DLF November expiry Call option

Strike Price 170
in the range of 6.5 - 7.5 (CMP 6.6)

Lot size 3300

The strategy covers risk of rise up to 176.5-177.5 on expiry day

However I might be cautious if DLF closes above 168

Take care & safe trading...!!!

Disclaimer:
- The view expressed here is my personal view
- Use this for educational purpose
- Any decision you take you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be