Sell Nifty 08 Sep 17300 PE For Target Rs. 10 - Religare Broking
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Derivative Ideas
NIFTY gained 0.72% and closed at 17665.8 on 5th Sep. The index traded with strength throughout the day on the back of addition of Fresh Longs in its FUTS. 17600 PE added meaningful OI making 17450-17500 zone to watch out for as support. We expect Nifty to trade with positive bias in the range of 17500-17900 and thus suggest selling PE as per the given levels.
Strategy:- SELL NIFTY 8 SEP 17300 PE @48-50 STOP LOSS 75, TARGET 10.
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