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Option strategy on Nifty Bank by Chandan Taparia of MOSL

Chandan Taparia/Mumbai 12 Sep 17 | 08:01 AM

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Option Strategy

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Widgets Magazine

NIFTY BANK: BULL CALL SPREAD – 28th Sept – Monthly Expiry

BUY BANK NIFTY 24700 CALL @ 230

SELL BANK NIFTY 25000 CALL @ 120

RATIONALE

1.  It has given a consolidation breakout above 24500 zones

2.  Fresh Put writing is seen at 24500 and 24200 strike

3. Buying interest in most of the heavyweight and built up of long position

4. Call unwinding in 24500 and shift in maximum OI congestion suggests further up move

5. Thus low risk Bull Call Spread is recommended

BEP: 24810

MAX RISK: 110 Points: Rs. 4400

MAX REWARD: 190 Points: Rs. 7600

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

Widgets Magazine

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Company Price Gain (%)
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O N G C180.001.41
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Reliance Inds.918.851.01

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