Derivative strategies on Just Dial, Nifty from Motilal Oswal

Here are a few derivative strategies from Sacchitanand Uttekar, Equity Technical Analyst, Motilal Oswal Securities for trade today:

JUST DIAL JULY FUT.

Reco: SELL

Target : Rs 554

Stop Loss: Rs 610

 
Mature continuation pattern on the daily scale indicates the bearish trend to extend further. Fresh shorts could be initiated with a stop at Rs 610 for a trading target upto Rs 554.

 
 
Option strategy:


Nifty: Call Butterfly Spread

 

Buy 8500 Ce July 1lot

Sell 8700 Ce July 2 lots

Buy 8900 CE July 1 lot


Target: Rs 11370             

Stop Loss: Rs 3630


Rationale: Nifty is in long- long Unwinding cycle. Option data suggest shift in option band to 8700. Put concentration remain in band of 8200-8400. Unwinding in OTM Calls in July series would auger directional move on higher side. Considering falling volatility and to benefit from theta decay, Long Call Butterfly Spread is recommended.

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Sacchitanand Uttekar is an Equity Technical Analyst at Motilal Oswal Securities