Derivatives Strategy - Sell Bank Nifty 6 August 20600 Put at Rs. 115-135 - ICICI Securities

Recommendation

Sell Bank Nifty 6 August 20600 Put at Rs. 115-135
Target: Rs. 2
Stop loss: Rs. 250
Time frame: Till 6 August expiry

Rationale

The Bank Nifty managed to move towards its highest Call base of 23000 but witnessed some profit booking and ended the series marginally below. Stock specific action continued where most private banks supported from the bottom.

The August series finally started with premium along with higher OI base indicating long rollover for the August series.

For details, click on the link below: https://www.icicidirect.com/mailimages/IDirect_BankNiftyStrategy_31Jul20.pdf

Source : Equity Bulls

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