Nifty futures today : Those with a stomach for risk would play a risky Nifty options strategy in the present month on the premise that the index would elevate by 1.5 per-cent from Tuesday's closing over the next six days after having held above 7700, the base level at which many traders have sold puts (1 Nifty option lot = 75 shares).
The call ratio strategy comprises buying one 7800 call and selling two 7900 calls to reduce the price of the former.
At yesterday's closing you would pay Rs 47 each 7800 share & get Rs 17 per 7900 share, cutting the net cost of the long option to 13 rs since you sell two calls of 7900 for Rs 34. The TGT(target) is Rs 7917 by the end of the existing series. You profit if Nifty close between 7813 (lower breakeven point) and 7917 (upper BEP). Max profit is Rs 104 & loss Rs 13, or a 1:8 risk return strategy. You lose Rs 13 if Nifty ends below 7813. But above 7917, your losses deepen since you've sold two 7900 calls.
Top Gainers till now-
GAIL (4.16%), BHEL (3.28%), SUN PHARMA (3.16%), TATA STEEL (3.05%), BHARTI AIRTEL (1.84%)
Top Losers till now- ASIAN PAINTS, WIPRO (0.05%).
Stocks that are in focus today:-
1. Opto Circuits (India) Ltd
2. Tech Mahindra Ltd
3. Canara Bank
4. Tata Steel Ltd
5. GAIL India Ltd
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