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Stock Option Trading: Buy DLF 220 Put Option at 4.15 for Target 9.5, Stock has Resistance at 244.

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DLF has bounced off after touching 179 level recently, but this bounce is limited up to its next strong resistance at 244 level, So short positions can be initiated in <a href="https://ournifty.com/dlf-stock-for-intraday-trading-today-sell-dlf-near-186-for-target-181-technical-analysis-suggest-short-dlf.html" title="DLF Stock for Intraday Trading Today: Sell DLF Near 186 for Target 181, Technical Analysis Suggest Short DLF”>DLF just near 242 level for targets as 229 and then 224 levels on positional basis. High risk traders can even buy some DLF put options of 220 strike price near 4.15 for targets as 9.5 and then 16 level also on 7 days positional basis only. Nifty futures is near its strong resistance level of 5170 also even some index heavyweight stocks are at their intermediate top. Even some short positions are added in nifty futures in open interest today. Also the DLF futures were trading with a wide discount of 2.5 points on NSE. Technical resistance on DLF at 244 is very strong, discount on DLF futures can be a good confirmation for us to take short positions. Technical indicators such as Slow stochastic can be used to time the short entries on DLF futures. Investors must keep this in mind that DLF is still in downtrend and at any point of time this downtrend must continue again pushing this stock lower.

DLF Put options Trading Analysis: Accumulate DLF 220 put option near 4.15 for targets as 9.5 and then 16 level, Traders must exit this position if DLF futures manages to close above 244 level.

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About Bhaveek Patel

Bhaveek Patel is one of the most successful traders, technical analyst, and investor, his areas of interest include stock market, forex, and gold trading. Apart from this, he is often seen in the golf course. He is having more than 10 years of experience in trading, had placed his first order on 19 June 2006 with IndiaInfoline.

Comments

  1. roshan says

    target met dlf went to 228 last week. nice call. can you provide nifty option tips for some charges i like your trading style.

    Reply

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