Corporate results will dictate trend
BSE Sensex (25480.84) and NSE Nifty(7602.60) closed down by 2.5% and 2.4% respectively last week.Nifty Future was quoting at 21.40 points premium.Nifty put option August 7600 was very active.Support for Sensex is at 24985 and Nifty at 7460. Resistance for Sensex is at 25955 and Nifty at 7740.
IDBI and HIND UNI LEVER added Open Interest in August series.Huge position was build up at GMR INFRA August Call Option Strike Price 30.Good build up was also seen at JP ASSOCIAT August Call Option Strike Price 70.
Strategy for Futures Option players.
(1) HIND PETRO (390.40) Future-Lot Size 1000 shares.
Buy One Lot AUGUST Future @ 390.40 Rs
Sell One Call Option of AUGUST Strike Price 410@ Rs.8.00
Premium Received=8*1000= 8000.00 Rs
Maximum Profit=410– 390.40 = 19.60*1000= 19600.00 + 8000 = 27600.00 Rs.
(2) SBIN (2437.20) LOT SIZE 125 shares
Buy One Call Option of AUGUST Strike Price 2440@ 98.85 Rs.
Sell One Call Option of AUGUST Strike Price 2480@ 82.00 Rs.
Premium Paid = 98.85*125= 12356.25 Rs.
Premium Received=82*125= 10250.00 Rs.
Net Premium Paid= 12356.25-10250= 2106.25 Rs.
Maximum Profit =2480-2440=40*125=5000– 2106.25= 2893.75 Rs.
Maximum Loss= 2106.25 Rs.
Break Even= 2456.85
(1) MARUTI (2586) Buy this stock in decline and trade .
(2) BANK BARODA (893.60) Buy this stock in decline and trade
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