BSE Sensex (27350.68) and NSE Nifty(8224.10) closed down by 3.9% and 3.6% respectively last week.Nifty Future was quoting at 52.60 points premium.Nifty call option December 8400 was very active.Support for Sensex is at 26550 and Nifty at 8000. Resistance for Sensex is at 28120 and Nifty at 8440.
TATA POWER and ITC added Open Interest in December series.Huge position was build up at HDIL December put Option Strike Price 60.Good build up was also seen at JPASSOCIAT December put Option Strike Price 27.50.
Strategy for Futures Option players.
(1) LIC HOUSING (441.10) Future-Lot Size 1000 shares.
Buy One Lot December Future @ 441.10 Rs
Sell One Call Option December strike price 460@ 5.50 Rs
Premium Received=5.50*1000= 5500.00 Rs
Maximum Profit=460-441.10=18.90*1000= 18900.00 + 5500.00 = 24400.00 Rs.
(2) KOTAK BANK (1247.30) LOT SIZE 250 shares
Buy One Call Option of DECEMBER Strike Price 1240@ 29.15 Rs.
Sell One Call Option of DECEMBER Strike Price 1280@ 11.15 Rs.
Premium Paid = 29.15*250 = 7287.50 Rs.
Premium Received=11.15*250= 2787.50 Rs.
Net Premium Paid= 7287.50-2787.50= 4500.00 Rs.
Maximum Profit =1280-1240=40*250=10000– 4500.00 =5500.00 Rs.
Maximum Loss= 4500.00 Rs.
Break Even= 1258.00
(1) RANBAXY (642.55) Buy this stock in decline and trade. .
(2) SKS MICRO (378.25) Buy this stock in decline and trade.
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