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Published on 1/08/2020 1:55:12 PM | Source: ICICI Direct

Derivatives Strategy – Positional Option Sell Bank Nifty 6 August 20600 Put​​​​​​​ by ICICI Direct

Posted in Broking Firm Views - Short Term Report| #Trading Report #ICICI Direct

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Derivatives Strategy – Positional Option

* The Bank Nifty managed to move towards its highest Call base of 23000 but witnessed some profit booking and ended the series marginally below. Stock specific action continued where most private banks supported from the bottom

* The August series finally started with premium along with higher OI base indicating long rollover for the August series

* Few PSU bank results are lined up, which will trigger some volatility. However, we feel that if PSU leaders like SBI manage to end above | 200 then a fresh up move could be seen

* For the coming week, sizeable Call OI is placed at the 22000 strike. However, for the fourth week in a row, additions are seen in 21500 and 21000 strike

Puts indicating major support Note:

1. Recommendation initiated on iclick-2-gain on July 31, 2020

2. The given recommendation in this report is positional recommendation and should not be linked with intraday view & recommendations given on iclick-2-gain, which may have a different view on a particular day

 

Sell Bank Nifty 6 August 20600 Put at Rs. 115-135, Target: Rs. 2, Stop loss: Rs. 250, Time frame: Till 6 August expiry

 

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