Sell Nifty 24 NOV 18100 PE @ 58-60 Target 20 - Religare Broking
Derivative Ideas
Nifty gained around 0.03% and closed at 18409.65 on 16th Nov. The index after opening flat consolidated in a narrow range. Nifty Futures saw a reduction in Open Interest of around 2.3%. With significant Put writing at 18300 strike, we expect NIFTY to be in the 18300-18600 range, thus suggesting selling PE as per the given levels.
Strategy:- SELL NIFTY 24 NOV 18100 PE @ 58-60, STOP LOSS 80, TARGET 20.
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