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Sell NIFTY 14 JUL 15800 PE For Target Rs.5 - Religare Broking
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Derivative Ideas
NIFTY shed 0.03% and closed at 16216 on 11th July. The index after opening negative traded with uptick on the back of PE writing and addition of longs in its FUTS. 16100 PE added 46k odd contracts making 16000-16100 level to watch out for support. We expect NIFTY to trade in the range of 16000-16500 in the short term and thus suggest selling PE as per the given levels.
Strategy:- SELL NIFTY 14 JUL 15800 PE@28-30, STOP LOSS 45, TARGET 5.
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