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Sell NIFTY 14 JUL 16600 CE For Target Rs.10 - Religare Broking
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Derivative Ideas
NIFTY gained 0.89% and closed at 16132.90 on 7th July. The index after opening with a gap managed to stay positive throughout the day, However no significant longs seen in its FUTS with heavy CE writing seen at 16200 levels, we expect NIFTY could find resistance around 16200-16300 zone. We expect NIFTY to trade in the range of 15900-16250 in the short term and thus suggest selling CE as per the given levels.
Strategy:- SELL NIFTY 14 JUL 16600 CE@32-35, STOP LOSS 50, TARGET 10.
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