Sell Nifty 27 October 16800 PE @ 28-30, Stop Loss 50, Target 5 - Religare Broking
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Derivative Ideas
NIFTY gained 0.14% and closed at 17512.25 on 19th Oct. The index after opening with a gap witnessed pressure at higher levels on the back of significant call selling in 17600 and beyond strikes. We expect Nifty to hold its support at 17400 and believe the index to trade with positive bias in the range of 17400-17650 in the short term thus suggesting selling PE as per the given levels.
Strategy:- SELL NIFTY 27 OCT 16800 PE @ 28-30, STOP LOSS 50, TARGET 5.
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