Sell Nifty 20 Oct 17600 CE @ 43-45, Stop Loss 65, Target 5 - Religare Broking
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Derivative Ideas
NIFTY shed 1.49% and closed at 16983.55 on 11th Oct. The index traded with weakness bias throughout the day and went on to close near day's low. The move happened on the back of addition of fresh shorts in its FUTS and significant call selling seen at Nifty 17200 strike. We expect the index to find resistance at 17400 and consolidate in the range of 16900-17400 in the short term and thus suggest selling CE as per the given levels.
Strategy:-
SELL NIFTY 20 OCT 17600 CE @ 43-45, STOP LOSS 65, TARGET 5.
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