Sell NIFTY 14 JUL 16300 CE For Target Rs.5 - Religare Broking
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Derivative Ideas
NIFTY shed 0.97% and closed at 16058.3 on 12th July. The index after opening negative traded weak throughout the day on the back of addition of Fresh Shorts in its FUTS and heavy CE writing at 16100 and beyond levels. We expect NIFTY to trade in 15900-16250 in the short term and thus suggest selling CE as per the given levels.
Strategy:- SELL NIFTY 14 JUL 16300 CE@28-30, STOP LOSS 45, TARGET 5.
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