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Derivative Ideas

NIFTY shed 0.24% and closed at 16818.1 on 29th Sep. The index traded volatile and pared all its opening gains. Every rise is getting sold into, the down move consists of addition of Fresh shorts in its FUTS and substantial Call selling at 17000 levels. We expect Nifty to trade with negative bias in the short term thus suggest selling CE as per the given levels.

Strategy:- SELL NIFTY 6 OCT 17300 CE @ 43-45, STOP LOSS 65, TARGET 5.

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