Sell Nifty 4 AUG 17000 CE For Target Rs.10 - Religare Broking
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Derivative Ideas
NIFTY shed 0.88% and closed at 16483.85 on 26th July. The index is witnessing some correction after finding resistance at 16700 levels. NIFTY traded with corrective bias throughout the day on the back of heavy CE writing at higher levels and addition of Fresh Shorts in its FUTS. We expect NIFTY to trade jittery in the range of 16350-16700 in the short term and thus suggest selling CE as per the given levels.
Strategy:- SELL NIFTY 4 AUG 17000 CE@38-40, STOP LOSS 60, TARGET 10.
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