Sell Nifty 13 Oct 17700 CE @ 38-40, Stop Loss 65, Target 5 - Religare Broking
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Derivative Ideas
NIFTY gained 0.33% and closed at 17331.80 on 6th Oct. The index after opening with a gap resisted at its immediate hurdle and pared most of its gains. The down move attracted fresh shorts in its FUTS. Call selling was also seen at Nifty 17400 and beyond strikes. We expect Nifty to trade sluggish till the time it does not cross above 17500 and thus suggest selling CE as per the given levels.
Strategy:
SELL NIFTY 13 OCT 17700 CE @ 38-40, STOP LOSS 65, TARGET 5.
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