 "Here is a Bull Spread strategy on L&T by HDFC Securities")
Bull spread Strategy on LARSEN
Buy LARSEN 1640 CALL at Rs 19 & simultaneously sell 1680 CALL at Rs 9
Lot Size: 575
Cost of the strategy: Rs 10 (Rs 5750 per strategy)
Maximum profit: Rs 17250 If LARSEN closes at or above 1680 on 29 July expiry.
Breakeven Point: Rs 1650
Also Read
Rational:
>> We have seen long build up in the Larsen Futures where we have seen 13%(Prov) rise in the Open Interest with price rising by 3.2%.
>> The stock price has broken out on the daily chart with higher volumes where it closed at all-time high levels.
>> RSI Oscillators is placed above 60 and slopping upwards, indicating strength in the current uptrend.
>> Plus DI is trading above Minus DI while ADX line is placed above 25, indicating momentum in the uptrend.
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