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ICICI BANK: Channel trade potential

ICICI BANK (NSE:ICICIBANK)  
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NSE:ICICIBANK   ICICI BANK
Trend Analysis Parallel Channel ICICIBANK NIFTY tradingview
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trendanalysis parallelchannel icicibank nifty tradingview
ICICI BANK
CMP 348

- We observe that the stock has spent majority of the time in the channel between 320-380


Given the view one may consider a Short strangle strategy in ICICI Bank

Sell ICICI Bank 320 Put around 8.5
&
Sell ICICI Bank 380 Call around 8.5

Lot size 1375

Max profit potential 1375 *(8.5+8.5) = Rs 23375/-

Yield potential approximately 10% till 25 June.


Loss in strategy if ICICI Bank closes below 303 or above 397 on 25th June 2020

Take care & safe trading...!!!

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