L&T Finance Holdings breaks out from 165
Updated
This market topped at around 215 and sold off. Consolidated briefly and then showing strength to the upside. There is high open interest at 180 and 190 which will act as the resistance. 190 is a weekly resistance as marked in red and 180 is a daily resistance as marked in black. Once 180 is taken off then weekly will become formal uptrend which will further fuel the upside rally. 165 is my ideal buy price with stop at 163 however that is not possible now. Notice how the cloud confirms to an upside breakout from 165. So I will trade options to capture the upside with target as 197. Trade will be managed by a 15 min chart with 2 ATR stops as the instrument is stock options.
Trade active
Bought stocks at 175 with stop at 168Trade closed manually
Booked profit at 180
a236z
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