Sell Nifty 3 Nov 17100 PE @ 38-40 STOP LOSS 60, TARGET 5 - Religare Broking
Derivative Ideas
NIFTY shed 0.42% and closed at 17656.35 on 25th Oct. The index witnessed some profit taking ahead of its monthly expiry. However the structure still remains positive. With Put base seen at 17500 in Nifty, we expect the index to trade with positive bias in the short term in the range of 17500-17750 thus suggesting selling PE as per the given levels.
Strategy:- SELL NIFTY 3 NOV 17100 PE @ 38-40, STOP LOSS 60, TARGET 5.
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