BSE Sensex (17562.61) and Nifty (5284.20) closed down 1.41 % and 1.4% respectively last week.Nifty Future November was quoting at 32.65 points premium..Nifty call option November 5400 was very active.Support for Sensex is at 17300. Resistance for Sensex is at 17825 .Support for Nifty is at 5200 and resistance at 5360.
Market remains closed on Monday, 7 November 2011 because of Bakri-Id and on Thursday, 10 November 2011 because of Gurunanak Jayanti.SBI,IDFC,ABB,BankIndia,IOC,Ranbaxy,Hindalco,Tata Steel,and Coal India will declare results next week.
Tata Steel and SBI added Open Interest in November series.Huge position was build up at SBI November Call Option Strike Price 2000.Good build up was also seen at Tata Steel November Call Option Strike Price 480.
Strategy for Futures Option players.
1)Cairn(306.35) Lot Size-1000 Shares
Buy One Call Option of November Strike Price 300@12.20 Rs
Sell One Call Option of October Strike Price 320@3.50 Rs.
Premium .Paid=12.20*1000=12200.00 Rs.
Premium Received=3.50*1000= 3500.00 Rs.
Net Premium Paid=12200.00-3500.00=8700.00 Rs.
Maximum Profit==320-300 =20*1000=20000-8700.00=11300.00 Rs.-
Maximum Loss= 8700.00 Rs.
Break Even Price=308.70
2)Ashok Leyland(27.55) Future-Lot Size 8000 shares.
Buy One Lot November Future @27.55 Rs
Sell One Call Option of November Strike Price 30@0.30 Rs.
Premium Received=0.30*8000=2400.00 Rs
Maximum Profit=30-27.55=2.45*8000=19600.00 + 2400.00=22000.00 Rs.
Max Loss=Unlimited.
Trading Idea
1)Lupin(483.20) Buy this stock in decline and trade .
2)Bank India(341.75) Buy this stock in decline and trade
By
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