Sell SELL NIFTY 14 JUL 15400 PE Target Rs.20 - Religare Broking
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Derivative Ideas
NIFTY gained 1.13% and closed at 15989.8 on 6th July. The index after opening flat traded on a positive note throughout the day. The base shifted from 15800 to 15900 on the back of heavy PE writing and incremental Longs in its FUTS, NIFTY tested its hurdle at 16000. Holding 15900, we expect NIFTY to trade with positive bias from here on and expect NIFTY to test 16200 levels in the short term. We thus suggest selling PE as per the given levels.
Strategy:- SELL SELL NIFTY 14 JUL 15400 PE@55-60, STOP LOSS 80, TARGET 20
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