Sell NIFTY 21 JUL 16500 CE For Target Rs.10 - Religare Broking
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Derivative Ideas
NIFTY shed 0.57% and closed at 15966.65 on 13th July. The index traded weak throughout the day on the back of heavy CE writing at 16000 and beyond levels with addition of fresh shorts in its futs. On charts, NIFTY engulfed the previous day range and gave a weak closing. We expect pressure in the markets going forward and thus suggest selling CE as per the given levels.
Strategy:- SELL NIFTY 21 JUL 16500 CE@38-40, STOP LOSS 60, TARGET 10.
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