Sell Nifty 01 Sep 17200 PE For Target Rs. 20 - Religare Broking
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Derivative Ideas
NIFTY gained 0.16% and closed at 17604.95 on 24th Aug. The index resumed its upward journey and traded with positive bias throughout the day. NIFTY FUTS saw significant addition of longs forming a good base at 17350-17400 for September series. We expect NIFTY to trade with positive bias in the range of 17500-17750 in the short term and thus suggest selling PE as per the given levels.
Strategy:- SELL NIFTY 1 SEP 17200 PE @53-55, STOP LOSS 75, TARGET 20.
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