ICICI Bank: Chart set up and trading strategy

ICICI Bank

Observation

- 20 day EMA is at 636

- 50 day EMA is at 626


Given the set up, one may consider a Bull Put spread strategy

Sell 620 Put option around 9 - 10

Buy 600 Put option around 4 - 4.5

Lot size 1375

The strategy has a yield potential of 12.7% approximately on margin requirement & has an inbuilt loss protection for a fall in price up to 615 till 29 July expiry

Take care & safe trading
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