Idea Cellular surged to 52-week high and RIL hits 52-week low
BSE Sensex (18197.20) and Nifty (5482) closed down 2.8% and 2.7% respectively last week.Nifty Future August was quoting at 8.55 points premium.Nifty call option August 5500 was very active.Support for Sensex is at 17900. Resistance for Sensex is at 18420 .Support for Nifty is at 5400 and resistance at 5550.. IDBI Bank,Grasim and Suzlon Energy will declare the quarterly results next week. RIL and ICICI Bank added Open Interest in August series.Huge position was build up at RIL August Call Option Strike Price 840.Good build up was also seen at ICICI Bank August Call Option Strike Price 1050. Strategy for Futures Option players. 1)Dena Bank(84.70) Lot Size-4000 Shares Buy One Call Option of August Strike Price 85.00@3.30 Rs Sell One Call Option of August Strike Price 90.00@1.50 Rs. Premium .Paid=3.30*4000=13200.00 Rs. Premium Received=1.50*4000= 6000.00 Rs. Net Premium Paid==13200.00-6000.00=7200.00 Rs. Maximum Profit==90.00-85.00. =5*4000=20000.00...