Expectations from upcoming final Union Budget which is expected on 10 July 2014 will continue to drive trend on the bourses
BSE Sensex (25099.92) and NSE Nifty(7508.80) closed down by 0.001% and 0.001% respectively last week.Nifty Future July was quoting at 36.45 points premium.Nifty call option July 7700 was very active.Support for Sensex is at 24600 and Nifty at 75380. Resistance for Sensex is at 25400 and Nifty at 7590.
CIPLA and SUN PHARMA added Open Interest in July series.Huge position was build up at UNITECH July Call Option Strike Price 35.Good build up was also seen at GMR INFRA July Option Strike Price 35.
Strategy for Futures Option players.
(1) WIPRO (545.70) Future-Lot Size 500 shares.
Buy One Lot JULY Future @545.70 Rs
Sell One Call Option of JULY Strike Price 550@ Rs.20.10
Premium Received=20.10*500= 10050.00 Rs
Maximum Profit=550– 545.70 = 4.30*500= 2150.00 + 10050 = 12200.00 Rs.
(2) SUN PHARMA (660.85) LOT SIZE 500 shares
Buy One Call Option of JULY Strike Price 660@ 28.10 Rs.
Sell One Call Option of JULY Strike Price 670@ 23.05 Rs.
Premium Paid = 28.10*500= 14050.00 Rs.
Premium Received=23.05*500= 11525.00 Rs.
Net Premium Paid= 14050-11525=2525.00 Rs.
Maximum Profit = 670-660=10*500=5000– 2525= 2475.00 Rs.
Maximum Loss= 2525.00 Rs.
Break Even= 665.05
(1) TITAN (353.15) Buy this stock in decline and trade .
(2) CENTURY TEXTILES (582.85) Buy this stock in decline and trade
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