ARVIND added around 4.6% of open interest as fresh short positions. Daily vwap is around 373 levels. Call writing was seen at 380 strike and put buying (unwinding by writers) was seen at 360 strike. We suggest buying 360 PE as per levels given below.
Strategy: BUY ARVIND 360 PE AT 2.80-3.20, SL 1, TARGET 7.80.
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