Sell Nifty 4 Aug 17200 CE For Target Rs.10 - Religare Broking
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Derivative Ideas
NIFTY shed 0.53% and closed at 16631 on 25th July. The index after seeing a non stop rally of 800 points is now undergoing some correction i.e both price and time wise. The index traded with corrective bias throughout the day on the back of heavy CE writing at higher levels. We expect NIFTY to spend some time in consolidation and trade in the range of 16400-16800 in the short term. We thus suggest selling CE as per the given levels.
Strategy:- SELL NIFTY 4 AUG 17200 CE@33-35, STOP LOSS 50, TARGET 10
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