Stock specific movement expected next week
BSE Sensex (25024.35) and NSE Nifty(7459.60) closed down by 3.6% and 3.8% respectively last week.Nifty Future July was quoting at 24.40 points premium.Nifty call option July 7700 was very active.Support for Sensex is at 24190 and Nifty at 7220. Resistance for Sensex is at 25800 and Nifty at 7690.
SUN PHARMA and DABUR added Open Interest in July series.Huge position was build up at UNITECH July Put Option Strike Price 22.50.Good build up was also seen at IDFC July Put Option Strike Price 150.
Strategy for Futures Option players.
(1) WIPRO (548) Future-Lot Size 500 shares.
Buy One Lot JULY Future @ 548.00 Rs
Sell One Call Option of JULY Strike Price 560@ Rs.12.60
Premium Received=12.60*500= 6300.00 Rs
Maximum Profit=560– 548 = 12*500= 6000.00 + 6300 = 12300.00 Rs.
(2) SUN PHARMA (744.05) LOT SIZE 500 shares
Buy One Call Option of JULY Strike Price 740@ 23.80 Rs.
Sell One Call Option of JULY Strike Price 760@ 15.00 Rs.
Premium Paid = 23.80*500= 11900.00 Rs.
Premium Received=15.00*500= 7500.00 Rs.
Net Premium Paid= 11900-7500=4400.00 Rs.
Maximum Profit = 760-740=20*500=10000– 4400= 5600.00 Rs.
Maximum Loss= 4400.00 Rs.
Break Even= 748.80
(1) INFY (3326.65) Buy this stock in decline and trade .
(2) DR REDDY (2700.70) Buy this stock in decline and trade
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