Sell Nifty 15 Sep 17800 PE For Target Rs. 5 - Religare Broking
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Derivative Ideas
NIFTY gained 0.75% and closed at 18070.05 on 13th Sep. The index managed to hold its gap up gains and traded with positive bias throughout the day. The move happened on the back of Unwinding in the calls and Put writing at 18000 strike. We expect Nifty to trade with positive bias in the range of 17900-18250 in the short term and thus suggest selling PE as per the given levels.
Strategy:- SELL NIFTY 15 SEP 17800 PE @38-40, STOP LOSS 60, TARGET 5.
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