Sell Nifty 08 Dec 19000 CE @ 38-40 Target 10 - Religare Broking
Derivative Ideas
Nifty gained 0.30% and closed at 18618.05 on 29th Nov. The index after opening flat managed to make a new lifetime high for the second consecutive day before facing resistance on the higher levels due to unwinding of some longs from its futures. With significant Call selling seen at 18700 weekly strike, we expect NIFTY to consolidate in the range of 18300-18700, thus suggesting selling CE as per the given levels.
Strategy:- SELL NIFTY 08 DEC 19000 CE @ 38-40, STOP LOSS 60, TARGET 10.
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