Sell Nifty 13 OCT 16800 PE @ 28-30, Stop Loss 50, Target 5 - Religare Broking
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Derivative Ideas
NIFTY shed 0.43% and closed at 17241.00 on 10th Oct. The index after opening gap down traded with positive bias throughout the day and partially managed to recoup its cuts. The move happened on the back of addition of Fresh longs in its FUTS and significant selling in near the money put options. We expect Nifty to trade with positive bias in the short term and thus suggest selling PE as per the given levels.
Strategy:
SELL NIFTY 13 OCT 16800 PE @ 28-30, STOP LOSS 50, TARGET 5.
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