Published on 15/03/2017 11:36:05 AM | Source: Religare Securities Ltd

Derivative Ideas Apollo Tyres Ltd For Target Rs.7.00 - Religare Sec

Posted in Broking Firm Views - Short Term Report | #Apollo Tyres Ltd #Tyres and Tubes Sector #Trading Report #Religare Securities Ltd


Derivative Ideas

APOLLOTYRE shed 1.5% of open interest as short covering. Call buying (unwinding by writers) was seen at 190 & 200 strikes and put writing was seen at 185 & 175 strikes. On charts, it has created a buying pivot on daily as well as on weekly charts. We recommend buying APOLLOTYRE 190 CE as per levels mentioned below.

 

Strategy:

BUY APOLLOTYRE 190 CE AT 3.50-3.80, SL 2.50, TARGET 7.

 

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