BSE Sensex
(19704.33) and
Nifty (5983.55) closed down by
2.9% and 3.3% respectively last week.Nifty
Future May was quoting at 7.35 points premium.Nifty call option May 6000 was very active.Support for Sensex is at 19050.Resistance for Sensex is at 20240. Support
for Nifty is at 5760 and resistance at 6160.
COAL
INDIA,GAIL,HINDALCO,DLF,SUNPHARMA,HPCL,BPCL,COLPAL,IOC and ONGC will announce results next week.
RCOM and DLF added Open Interest in May series.Huge position
was build up at SBI May Call Option Strike Price 2200.Good build up
was also seen at TATA STEEL Call May Option Strike Price 320.
Strategy for Futures Option players.
(1) ICICI BANK
(1204.15) lot size 250 shares
Buy One Call Option of JUNE Strike Price 1200@ 37.50 Rs
Sell One Call Option of JUNE Strike
Price 1240@ 22.00 Rs.
Premium .Paid= 37.50*250= 9375.00 Rs.
Premium Received= 22*250= 5500.00 Rs.
Net Premium Paid= 9375-5500= 3875.00 Rs.
Maximum Profit= 1240-1200= 40*250=10000-3875
= 6125.00 Rs.-
Maximum
Loss= 3875.00 Rs.
Break Even = 1215.50
(2) TATA STEEL (317.20) Future-Lot Size 1000 shares.
Buy One Lot JUNE Future
@ 317.20 Rs
Sell One Call Option of JUNE Strike Price 330@ 7.95 Rs.
Premium Received= 7.95*1000= 7950.00 Rs
Maximum Profit=330-317.20 = 12.80*1000= 12800.00
+ 7950.00 = 20750.00 Rs.
Max Loss=Unlimited.
Trading Idea
(1) CESC (328.20) Buy this stock in decline
and trade
.
(2) LUPIN (769.65) Buy this stock in decline and trade
Website www.subscriptionnarendranainani.blogspot.com
1 comment:
Experts said that Market taking cues from Rupee movement in forex market and upcoming quarterly earnings report.
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