Sell Nifty 15 Sep 17400 PE For Target Rs. 10 - Religare Broking
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Derivative Ideas
NIFTY gained 0.99% and closed at 17798.75 on 8th Sep. The index witnessed a sharp rally on the weekly expiry day on the back of addition of Fresh Longs in its FUTS and Unwinding of huge sold calls at 17600, 17700 strikes. We expect NIFTY to trade positive after breaking out of its consolidation range and thus suggest selling PE as per the given levels.
Strategy:- SELL NIFTY 15 SEP 17400 PE @53-55, STOP LOSS 75, TARGET 20
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