Sell Nifty 6 October 17200 CE @ 38-40, Stop Loss 60, Target 5 - Religare Broking
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Derivative Ideas
NIFTY shed 1.21% and closed at 16887.35 on 3rd Oct. The index after opening flat witnessed selling pressure throughout the day. The move happened on the back of addition of Fresh Shorts in its FUTS and significant Call writing at 17000 levels. We expect Nifty to trade with weakness bias in the short term and thus suggest selling CE as per the given levels.
Strategy:- SELL NIFTY 6 OCT 17200 CE @ 38-40, STOP LOSS 60, TARGET 5.
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