Sell Nifty 22 Sep 18300 CE For Target Rs. 5 - Religare Broking
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Derivative Ideas
NIFTY shed 0.7% and closed at 17877.40 on 15th Sep. The index traded with negative bias throughout the day on the back of addition of shorts in its FUTS. Fresh Call writing is also evident at higher strikes. We expect Nifty to face resistance around 18100 levels and consolidate in the range of 17700-18100 in the short term thus suggesting selling CE as per the given levels.
Strategy:- SELL NIFTY 22 SEP 18300 CE @38-40, STOP LOSS 60, TARGET 5.
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