Major market remains closed on 1 January on account of New Year
BSE Sensex (27241.78) and NSE Nifty(8200.70) closed down by 0.4% and 0.3% respectively last week.Nifty Future was quoting at 68.30 points premium.Nifty call option January 8400 was very active.Support for Sensex is at 26950 and Nifty at 8110. Resistance for Sensex is at 27500 and Nifty at 8320.
SBI and BANK OF INDIA added Open Interest in January series.Huge position was build up at SBI January call Option Strike Price 320.Good build up was also seen at IBREALEST January call Option Strike Price 75.
Strategy for Futures Option players.
(1) TVS MOTORS (264.50) Future-Lot Size 1000 shares.
Buy One Lot January Future @ 264.50 Rs
Sell One Call Option January strike price 280@ 7.60 Rs
Premium Received= 7.60*1000= 7600.00 Rs
Maximum Profit=280-264.50=15.50*1000= 15500.00 + 7600.00 = 23100.00 Rs.
(2) CANARA BANK (448.25) LOT SIZE 1000 shares
Buy One Call Option of January Strike Price 450@ 20.60 Rs.
Sell One Call Option of January Strike Price 470@ 12.70 Rs.
Premium Paid = 20.60*1000 = 20600.00 Rs.
Premium Received=12.70*1000= 12700.00 Rs.
Net Premium Paid= 20600.00-12700.00= 7900.00 Rs.
Maximum Profit =470-450=20*1000=20000.00 – 7900.00 = 12100.00 Rs.
Maximum Loss= 7900.00 Rs.
Break Even= 457.90
(1) BANK INDIA (301.50) Buy this stock in decline and trade. .
(2) UNION BANK (240.90) Buy this stock in decline and trade.
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