Sell Nifty 08 Dec 18200 PE @ 28-30 Target 5 - Religare Broking
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Derivative Ideas
Nifty gained 0.75% and closed at 18758.35 on 30th Nov. The index after opening flat witnessed humongous buying in the last 30 minutes of trade and managed to close at a new high. Nifty December futures added around 5% Open Interest with rise in price suggesting formation of fresh longs. With substantial Put selling seen at 18600 weekly strike, we expect NIFTY to trade in the range of 18600-18900, thus suggesting selling PE as per the given levels.
Strategy:- SELL NIFTY 08 DEC 18200 PE @ 28-30, STOP LOSS 50, TARGET 5.
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