REC Limited: Short term Sideways to Bullish

Synopsis

REC Limited’ daily trend is bullish, however in the last few trading sessions, it has shown some correction. RSI for monthly, weekly, and weekly is indicating a bullish trend. Based on option chain analysis, the range is between 120 and 125. Let’s plan a trade around this.

REC Limited’ daily trend is bullish, however in the last few trading sessions, it has shown some correction. RSI for monthly, weekly, and weekly is indicating a bullish trend. Based on maximum open interest, its maximum open interest at the PUT side is at strike 120, and on the CALL side, it is at 125. We are assuming it will spend most of the time between 122-126. We are recommending a short Iron Condor strategy for taking the short-term

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