Sell Nifty 30 JUN 16100 CE For Target Rs.5 - Religare Broking
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Derivative Ideas
NIFTY gained 0.85% and closed at 15832.05 on 27th June. The index witnessed selling pressure after opening with a gap and pared its partial gains. We expect NIFTY to trade in the 15600-16000 range in the short term. The buildup at 16000 CE suggests 16050-16100 to be a resistance zone. We thus suggest selling 16100 CE as per the given levels.
Strategy:- SELL NIFTY 30 JUN 16100 CE@ 35-40, STOP LOSS 60, TARGET 5.
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