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Option strategy on Zee Entertainment by Chandan Taparia of MOSL

Chandan Taparia/Mumbai 08 Sep 17 | 07:46 AM

Strategy:


ZEE ENTERTAINMENT ENTERPRISES: BULL CALL SPREAD

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BUY ZEEL 520 CALL

SELL ZEEL 540 CALL

BEP : 527

MAX RISK : 7 POINTS / KEEP SL OF : Rs. 5000

MAX REWARD : 13 POINTS / KEEP TARGET OF : Rs. 10000


RATIONALE:

1) Respected to its multiple support of 500-505 zones and has been consolidating near to support zones

2) Supports are slightly shifting higher and a small follow could lead it to 540 zones

3) Hovering near to its 50 DEMA

4) Rollover of 82% with positive roll cost suggests an up move

5) Thus low risk Bull Call Spread is recommended


Disclaimer: The analyst may have positions in any or all the stocks mentioned above.

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Sensex

Company Price Gain (%)
Sun Pharma.Inds.537.254.03
Cipla621.853.19
Dr Reddy's Labs2,347.203.07
Bharti Airtel505.152.54
Lupin844.502.21

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