Book profit in last week's combined strategy. It is much more than 4%
Risk takers could exit from NIFTY CALL sell positions and Apollotyre CALL sell position, book profits there and wait for Apollotyre and Cairn call buy and put buy contracts respectively. Even if they hold only these two contracts, maximum loss could be Rs. 7000 to 8000/-. It is highly possible that either of this stock would move in desired direction to give handsome profit this week.
Bank of India
This stock is at supply level, most of the indicators in overbought zone.
How to trade this view? There are below four probable options, one can choose based on his/her risk appetite.
Risk takers could exit from NIFTY CALL sell positions and Apollotyre CALL sell position, book profits there and wait for Apollotyre and Cairn call buy and put buy contracts respectively. Even if they hold only these two contracts, maximum loss could be Rs. 7000 to 8000/-. It is highly possible that either of this stock would move in desired direction to give handsome profit this week.
Bank of India
This stock is at supply level, most of the indicators in overbought zone.
One can see lot of unwinding of 290 and 300 CALLs on Friday and not much addition in 290 PUTs. There is possibility of downside on Monday. One can see levels up to 270-275 in coming weeks.
- Sell 290 CALL around 15 and buy 310 CALL around 4. At end of the month, if both contracts expire worthless then maximum profit could be Rs. 9000/- else there could be maximum loss potential of Rs. 9000/-!!
- Buy 290 PUT around 7/-, maximum loss could be Rs. 7000/-
- Buy 290 PUT around 7/-, sell 280 PUT around Rs. 4/-; Maximum profit 7000/- and maximum loss 3000/-
- Sell Future with strict SL 310-312.
Disclaimer: This blog does not take any responsibility of your profit/loss
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