Sell Nifty 3 Nov 17200 PE @ 33-35, Stop Loss 50, Target 5 - Religare Broking
Derivative Ideas
NIFTY gained 0.46% and closed at 17736.95 on 27th Oct. The index, after opening with a positive gap, constantly faced pressure on the back of selling in Near the money Calls on its monthly expiry. However the structure still remains positive. We expect the index to trade with positive bias in the short term in a range of 17500-17850, thus suggesting selling PE as per the given levels
Strategy:- SELL NIFTY 3 NOV 17200 PE @ 33-35, STOP LOSS 50, TARGET 5.
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