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Sell Nifty 20 October 16900 PE @ 38-40, Stop Loss 60, Target 5 - Religare Broking
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Derivative Ideas
NIFTY gained 0.73% and closed at 17311.80 on 17th Oct. The index traded with positive bias throughout the day. The move happened on the back of addition of Fresh Longs in its FUTS and heavy put selling at 17200 levels. We expect Nifty to trade with positive bias in the range of 17200-17500 in the short term and thus suggest selling PE as per the given levels.
Strategy:- SELL NIFTY 20 OCT 16900 PE @ 38-40, STOP LOSS 60, TARGET 5.
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