Since the stock has been making new all time highs and its q2 net profit jumped up almost 4 times, I have been tracking it on my watchlist for a proper breakout. Yesterday I noticed a good breakout, but only towards the market close and so I could not enter a trade. This morning I saw an insight on it on Tradomate–
80% win rate with a backtested TP of 3.9% and clean reversal structure from a base.
Decided to go with the Nov call option (1200 CE) instead of cash since the momentum looked strong and metal stocks were showing strength.
Bought 1 lot for 20,000 and entered around 29.65 and hit my target in the next 15m candle itself. Exit at 45 for about +50%.
**Price action on the spot chart played out exactly like the backtest with a nice bounce. Could have bought more lots here, but will keep an eye out for other explosive Insights like this one!
