Below normal levels of monsoon rain expected this year according to the India Meteorological Department (IMD)
BSE Sensex (22403.89) and NSE Nifty(6694.80) closed down by 1.3% and 1.31% respectively last week.Nifty Future May was quoting at 29.30 points premium.Nifty put option May 6400 was very active.Support for Sensex is at 22100 and Nifty at 6600. Resistance for Sensex is at 22650 and Nifty at 6770.
HDIL and DLF added Open Interest in May series.Huge position was build up at HDIL April Call Option Strike Price 70.Good build up was also seen at DLF May Call Option Strike Price 150.
Strategy for Futures Option players.
(1)PETRONET(146.35) Future-Lot Size 2000 shares.
Buy One Lot MAY Future @146.35 Rs
Sell One Call Option of MAY Strike Price 150@ Rs.6.05
Premium Received=6.05*2000= 12100.00 Rs
Maximum Profit=150– 146.35 = 3.65*2000= 7300 + 12100 = 19400.00 Rs.
(2) LUPIN (1010.10) LOT SIZE 250 shares
Buy One Call Option of MAY Strike Price 1010@ 42.05 Rs.
Sell One Call Option of MAY Strike Price 1030@ 31.95 Rs.
Premium Paid = 42.05*250= 10512.50.00 Rs.
Premium Received=31.95*250= 7987.50 Rs.
Net Premium Paid= 10512.50-7987.50=2525.00 Rs.
Maximum Profit = 1030-1010=20*250=5000.00 – 2525.00= 2475.00 Rs.
Maximum Loss= 2525.00 Rs.
Break Even= 1020.10
(1) SUN PHARMA (629.90) Buy this stock in decline and trade .
(2) HDFC (910.95) Buy this stock in decline and trade
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