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Option Strategy on Nifty Bank from Chandan Taparia of Motilal Oswal

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

Chandan Taparia  |  New Delhi 

markets, stocks, sensex, nifty, bse, nse
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NIFTY BANK: BULL CALL SPREAD – 28th Sept – Monthly Expiry

BUY NIFTY BANK 24700 CALL
SELL NIFTY BANK 25000 CALL

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

STOP LOSS: Rs 3,000
TARGET: Rs 6,000

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

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Wed, September 13 2017. 12:00 IST
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