Sell Nifty 27 Oct 17100 PE @ 38-40, Stop Loss 60, Target 5 - Religare Broking
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Derivative Ideas
NIFTY gained 0.30% and closed at 17563.95 on 20th Oct. The index traded with positive bias throughout the day of the back of long rollovers in its FUTS and significant put selling at 17500 strike. We expect Nifty to trade with positive bias in the range of 17450-17700 in the short term thus suggesting selling PE as per the given levels.
Strategy:- SELL NIFTY 27 OCT 17100 PE @ 38-40, STOP LOSS 60, TARGET 5.
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