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Derivative strategy on Reliance Industries by Motilal Oswal Securities

Chandan Taparia/Mumbai 09 Jun 17 | 08:19 AM

Derivative strategy on Reliance Industries by Chandan Taparia of Motilal Oswal Securities:

Option Strategy:  RELIANCE INDUSTRIES (Call Ladder Spread)

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Buy 1340 CE 1 lot

Sell 1400 CE 1 lot

Sell 1420 CE 1 lot

Rationale:

Reliance has respected its multiple support of 1300 and formed a double bottom.

Fresh writing at 1340 PE could provide support while unwinding in 1340, 1360, 1380 could attract a bounce.

Maximum Call OI is at 1400 strike which could restrict its upside momentum.

Thus low risk Call Ladder Spread is recommended.

TARGET: Rs 10,000 

                   

STOP LOSS: Rs 4,000

Hedge: Buy Future Above 1,460

Disclaimer: Chandan Taparia is a Deivatives and Technical Analyst at Motilal Oswal Securities.

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Sensex

Company Price Gain (%)
Wipro286.406.47
Reliance Inds.1,586.203.76
Coal India262.252.66
TCS2,490.901.87
Kotak Mah. Bank998.651.86

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