Published on 20/05/2017 4:34:50 PM | Source: Religare Securities Ltd
Derivative Ideas Nifty For Target Rs.30.00 - Religare Sec
* Nifty futures volume weighted average price (VWAP) is at 9370 and Banknifty futures is at 22600.
* Nifty and Banknifty futures closed with premium of around 19 & 25 points respectively.
* Nifty call writing was seen at 9500 strike, put buying (unwinding by writers) was seen at 9500 strike. Maximum positions are still at 9300 PE and 9500 CE.
* Nifty is expected to be in the range of 9250-9550.
* Finance, Capital Goods, Fertilisers and Textile stocks lost the most during the week.
* DIIs were net buyer of around Rs 1045 Cr in cash segment during the week.
* VIX is still in same range and likely to hover around 10-15% range for the next week.
NIFTY call writing was seen at 9500 strike and put buying was seen at 9500 strike. Profit booking was seen in Nifty futures. We suggest doing 9400/9250 PE 1:2 ratio spread as per levels mentioned below.
BUY NIFTY 1 LOT 9400 PE AT 28 & SELL 2 LOT 9250 PE AT 9, SPREAD AT 10, TARGET 30.
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