Standard & Poor cut India's long-term rating outlook to negative from stable

 

BSE Sensex (17134.25) and Nifty (5190.60) closed  down  1.4%  and  1.9%   respectively  last week.Nifty Future May was quoting at 18.70  points premium.Nifty call option May  5300 was very active.Support for Sensex is at  16775. Resistance for Sensex is at 17625 .Support for Nifty is at 5060 and resistance at 5370.

.Hero Honda,Bank Of Baroda and Hindustan Unilever will declare Q4 results next week.Market remains closed on 1^ST May because of Maharashtra Day.

 ICICI Bank and  SBI added Open Interest in May  series.Huge position was build up at  ICICI Bank  Call Option Strike 900.Good build up was also seen at  Axis Bank May Call Option Strike Price 1100.

Strategy  for Futures Option players.                                                                       

1)ICICI Bank(860.75) lot size 250 shares                                                                                                                                                                                                                         

Buy One Call Option of  May Strike Price 860@31.00  Rs

Sell One Call Option of  May Strike Price 880@22.90  Rs.

Premium .Paid= 31*250=7750.00 Rs.

Premium Received= 22.90*250=  5725.00 Rs.

Net Premium Paid=7750.00-5725.00=2025.00 Rs.

Maximum Profit==880-860 =20*250=5000-2025= 2975.00 Rs.-

 Maximum Loss=  2025.00 Rs.

Break Even Price= 868.10

2)Hindalco(120.10)   Future-Lot Size 2000 shares.

Buy One Lot May   Future  @120.10 Rs

Sell One Call Option of  May Strike Price 130@ Rs.2.45

Premium Received=2.45*2000= 4900.00 Rs

Maximum Profit=130-120.10 == 9.9*2000=.19800.00 + 4900.00=24700.00 Rs.

Max Loss=Unlimited.

           

Trading Idea

1)Praj Industries(70.25) Buy this stock in decline and trade                                                                                                                                                                                                                                .

2)Essar Oil(52.35) Buy this stock in decline and trade

 

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Narendra Nainani

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