Sensex closes at two years high
We can see through the charts.
We can write it on the wall.
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BSE Sensex (29648.99) and NSE Nifty(9160.05) close up by 2.40 % and 2.50% respectively last week.
ITC and RECLTD added Open Interest in March series.Huge position was build up at ITC March call Option Strike Price 290.00.Good build up was also seen at RELCAPITAL call Option Strike Price 620.00.
Strategy for Futures Option players
(1) PFC (140) Future-Lot Size 6000 shares.
Buy One Lot March Future @ 140 Rs.
Sell One Call Option March strike price 145.00 @ 2.00 Rs
Premium Received = 2*6000 = 12000.00 Rs
Maximum Profit= 145.00 – 140.00 = 5*6000 = 30000 + 12000 = 42000.00 Rs.
Max Loss=Unlimited.
(2) REC LTD (168.30) LOT SIZE 6000 shares
Buy One Call Option of March Strike Price 165@5.40 Rs.
Sell One Call Option of March Strike Price 170@ 3.00 Rs.
Premium Paid = 5.40*6000 = 32400.00 Rs.
Premium Received = 3*6000 = 18000.00 Rs.
Net Premium Paid = 32400.00 – 18000.00 = 14400.00 Rs.
Maximum Profit = 170.00 – 165.00 = 5*6000 = 30000.00 – 14400.00 = 15600.00 Rs.
Maximum Loss = 14400.00 Rs.
Break Even = 167.40
Trading Idea
(1) TATA ELXI (1517.20) Buy this stock in decline and trade.
(2) M & M FIN (311.05) Buy this stock in decline and trade.
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