Containing fiscal deficit, controlling inflation and promoting growth will be the task of finance minister in the union budget
BSE Sensex (25962.06) and NSE Nifty(7751.60) closed up by 3.4% and 3.2% respectively last week.Nifty Future July was quoting at 38.40 points premium.Nifty call option July 8200 was very active.Support for Sensex is at 25430 and Nifty at 7600. Resistance for Sensex is at 26500 and Nifty at 7900.
RCOM and ONGC added Open Interest in July series.Huge position was build up at NHPC July Call Option Strike Price 30.Good build up was also seen at POWER GRID July Option Strike Price 150.
Strategy for Futures Option players.
(1) BANK INDIA (306.50) Future-Lot Size 1000 shares.
Buy One Lot JULY Future @ 306.50 Rs
Sell One Call Option of JULY Strike Price 320@ Rs.11.60
Premium Received=11.60*1000= 11600.00 Rs
Maximum Profit=320– 306.50 = 13.50*1000= 13500.00 + 11600 = 25100.00 Rs.
(2) HDFC BANK (856.65) LOT SIZE 500 shares
Buy One Call Option of JULY Strike Price 860@ 28.20 Rs.
Sell One Call Option of JULY Strike Price 880@ 18.50 Rs.
Premium Paid = 28.20*500= 14100.00 Rs.
Premium Received=18.50*500= 9250.00 Rs.
Net Premium Paid= 14100-9250=4850.00 Rs.
Maximum Profit = 880-860=20*500=10000– 4850= 5150.00 Rs.
Maximum Loss= 4850.00 Rs.
Break Even= 869.70
(1) MARUTI (2642.50) Buy this stock in decline and trade .
(2) POWER GRID (144.20) Buy this stock in decline and trade
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