Sell Nifty 25 Aug 17600 CE for Target Rs. 10 - Religare Broking
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Derivative Ideas
NIFTY gained 0.07% and closed at 17956.5 on 18th Aug. The index consolidated with positive bias on the weekly expiry day. NIFTY Futs saw good addition of longs with 17900 PE adding significant OI making 17800-17850 to look out for as support. We expect NIFTY to trade with positive bias in the range of 17800-18100 in the short term and thus suggest selling PE as per the given levels.
Strategy:- SELL NIFTY 25 AUG 17600 PE @48-50, STOP LOSS 70, TARGET 10.
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