BSE Sensex (16371.51) and Nifty (4905.80) closed down 4.6 % and 5.1% respectively last week.Nifty Future November was quoting at 18.20 points premium..Nifty call option November 4900 was very active.Support for Sensex is at 15890. Resistance for Sensex is at 17100 .Support for Nifty is at 4750 and resistance at 5140.
Siemens and Bajaj Hindusthan will declare results next week.
SBI and ICICI Bank added Open Interest in November series.Huge position was build up at SBI November Call Option Strike Price 1800.Good build up was also seen at Tata Steel November Call Option Strike Price 400.
Strategy for Futures Option players.
1)SAIL(94.30) Lot Size-2000 Shares
Buy One Call Option of November Strike Price 90@5.25 Rs
Sell One Call Option of November Strike Price 95.00@3.00 Rs.
Premium .Paid=5.25*2000=10500.00 Rs.
Premium Received=3*2000= 6000.00 Rs.
Net Premium Paid=10500.00-6000.00=4500.00 Rs.
Maximum Profit==95-90 =5*2000=10000-4500.00=5500.00 Rs.-
Maximum Loss= 4500.00 Rs.
Break Even Price=92.25
2)WIPRO(375.90) Future-Lot Size 500 shares.
Buy One Lot November Future @375.90 Rs
Sell One Call Option of November Strike Price 380@4.80 Rs.
Premium Received=4.80*500=2400.00 Rs
Maximum Profit=380.00-375.90=4.1*500=2050.00 + 2400.00=4450.00 Rs.
Max Loss=Unlimited.
Trading Idea
1)Sun Pharma(498.60) Buy this stock in decline and trade .
2)IDFC(111.20) Buy this stock in decline and trade
By
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