Buy 390 CE 1 lot
Sell 400 CE 1 lot
Sell 410 CE 1 lot
1. It has formed a positive price pattern that is intact and a follow up buying could extend fresh rally
2. Positive sector outlook along with unwinding in 390 CE could lead to option trigger for move towards 400
3. Put accumulation at 380 could act as strong support.
4. Considering faster theta decay , Bull Call Ladder is recommended
Stop Loss: 2,050
Hedge: Above 415
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Chandan Taparia is Derivative and Technical Analyst at Motilal Oswal Securities.