The stock has been moving down for the entire june july n august month expecting it to start moving upwards again
at 1230 price level a big spike in volume seen ==> personally indicating a investor started buying it.
MFI has touched bottom zone waiting for a breakout in it ==( line has been drawn )
for upside movement trading strategy :
Calendar Spread: remember it is all option together --> try to adjust premium for good result AUG : SELL 1120 PE BUY 1080 PE SEP: BUY 1400 CE SELL 1500 CE this is giving good return with low risk make sure breakeven is around 1110 on the downside
ADJUSTMENT : if stock starts moving further downside ... start adding PE in september month and position of call option on lower strike price ...
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