Published on 9/07/2020 12:37:49 PM | Source: ICICI Direct

Derivatives Strategy – Positional Option Sell Bank Nifty 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 relatively underperformed in this current leg of the Nifty move from 10200 to 10700 whereas stock specific activity continued in banking stocks

* It managed to close above 22000, which was the sizeable Call base on July 6. Later, there was closure in OI in the futures segment as the day progressed, along with a sharp rise in price indicating short covering

* Despite huge OI in ATM Calls in private banks, most leaders saw a decent rally from lower levels whereas midcap banking stocks saw short covering

* The recent fall in the Dollar index below 97 levels will help the rupee to strengthen. We feel the ongoing short covering would continue in the BFSI space. Hence, we recommend selling 21500 Put to play the upsides Note: 1. Recommendation initiated on iclick-2-gain on July 07, 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


Positional Option: Sell Bank Nifty 16 July 21500 Put at Rs. 180-200, Target: Rs. 2, Stop loss: Rs. 390, Time frame: Till 16 July expiry


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