Sell Nifty 01 Dec 18300 PE @ 28-30 Target 5 - Religare Broking
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Derivative Ideas
Nifty gained 0.27% and closed at 18562.75 on 28th Nov. The index after opening negative created a new all time high at 18614.25 for the day owing to broader participation from sectors. NIFTY DEC FUTS added around 7% to its Open Interest as Fresh Longs. With significant Put selling seen at 18500 weekly strike, we expect NIFTY to maintain its positive bias and continue to trade in the range of 18400-18700, thus suggesting selling PE as per the given levels.
Strategy:- SELL NIFTY 01 DEC 18300 PE @ 28-30, STOP LOSS 50, TARGET 5.
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