Rationale

* On the back of strong inflows in the second half of November series, stock specific action was seen rather than broad based participation. Stocks like Jubilant Foodworks made a new lifetime high

* Long rollovers were seen in the stock where the roll spread moved higher indicating the ongoing momentum is likely to continue

* At the start of the December series, Call OI is seen in 2600 and 2700 strike Calls. We feel a close above | 2600 would trigger another 100 point rally. As the series progresses, OI activity would pick up

* The stock made a life-time high and saw profit booking this week. However, near | 2420-2450, delivery based volumes are seen, which remains a strong support on downside

* Major Put OI block is placed at 2400 strike. We feel writing activity would pick up eventually as the series progress. Due to higher IVs option premium are expensive. Hence, we recommend Covered Call

Buy Jubilant Foodworks Ltd @ 2475-2495 TGT 2690 SL 2310 

To Read Complete Report & Disclaimer Click Here

For More ICICI Direct Disclaimer http://icicidirect.com/disclaimer.html
SEBI Registration number is INZ000183631

Above views are of the author and not of the website kindly read disclaimer