Tata Power: Chart setup and trading strategy

Tata Power

Observations

- the stock is close to Line of resistance
- 38.2% retracement comes at 231


Given the set up, one may consider to sell 230 Call option (sold at 3.7)

The strategy has approximately 7% yield potential on Margin required and covers risk for a rise in stock price up to 233.70

Please follow risk management measures

Take care & safe trading...!!!

Disclaimer
- The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- 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
- if trading in F&O, understand that F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be