Sell NIFTY 7 JUL 16200 CE For Target Rs.10 - Religare Broking
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Derivative Ideas
NIFTY shed 0.12% and closed at 15780.25 on 30th June. The index traded in a narrow range of 200 points i.e. 15700-15900. NIFTY managed to trade with positive bias in the 1st half, however it witnessed pressure after finding the resistance at 15850-15900 zone on the back of CE writing at higher levels. We expect NIFTY to trade in a range of 15650-15950 and thus suggest selling CE as per the given levels.
Strategy:- SELL NIFTY 7 JUL 16200 CE@40-45, STOP LOSS 60, TARGET 10.
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