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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 

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 ...

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