Sell Nifty 20 October 16700 PE @ 28-30, Stop Loss 50, Target 5 - Religare Broking
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Derivative Ideas
NIFTY gained 1.01% and closed at 17185.70 on 13th Oct. The index traded with negative bias after opening with a gap. However it managed to hold its gains partially and short covering is seen in its FUTS. We expect Nifty to consolidate further in the range of 17000-17300 in the short term and thus suggest selling PE as per the given levels.
Strategy:- SELL NIFTY 20 OCT 16700 PE @ 28-30, STOP LOSS 50, TARGET 5.
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