Formation of dark cloud cover pattern on adani power daily chart with RSI also showing overbought signs ,there is decent amount of volume supporting the fact that bears are now active in it, so one can trade on adani power by selling its october futures@ 54 and simultaneously buying 55 october strike call @ 2-2.5 for protection.
BOOK PROFITS IN ADANIPOWER OCTOBER FUTURES @ 49.5 and SELL 55 OCTOBER STRIKE CALL @ 0.5.
ReplyDeletePROFIT FROM FUTURE:54-49.5=4.5
LOSS FROM CALL:2.5-0.5=2
NET PROFIT:2 PER LOT(1 LOT=4000)
MARGIN REQUIRED FOR ONE LOT=Rs.40180
PROFIT%:8000/40180*100=19.91%