Nestle India: Pennant Pattern

NESTLEIND is showing a symmetrical triangle (Pennant) pattern.

Here for 29th December'2022 expiry, we can device a safer (chilar) strategy :)


BUY 21000 Call
BUY 19500 Put
SELL 20750 Call
SELL 19500 Put

Margin needed: 65K
Profit: 1200 (chilar profit, but much safe)

Safe below: 20778 (which is well above resistance and Fib 78.6% level.
Also last two days Long Unwinding is saw in this counter.
So mostly rangebound to downside movement in this week.