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Derivative strategy on Reliance Industries by Motilal Oswal Securities

Chandan Taparia/Mumbai 13 Jun 17 | 08:23 AM

A man walks past an advertisement of Reliance Industries Limited at a construction site in Mumbai

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:

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

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

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

4.      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 (%)
IndusInd Bank1,875.603.40
M & M822.502.74
Sun Pharma.Inds.514.201.74
Asian Paints1,178.601.68
Yes Bank313.051.49

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