 "Nandish Shah recommends the following option strategy on SBI Cards")
Option Strategy on SBI CARDS
Buy SBI CARDS Nov 1020 PUT AT RS 7
Lot Size 500
STOP LOSS RS 3
TARGET RS 15
Rationales:
Buy SBI CARDS Nov 1020 PUT AT RS 7
Lot Size 500
STOP LOSS RS 3
Also Read
Rationales:
- We have seen short build up in the SBI Cards Futures, where we have seen 21%(Prov) rise in the Open Interest with price falling by 3%.
- Stock price has broken out from the upward sloping trendline, adjoining the lows of 22-July and 29-Oct on the daily chart.
- RSI and MFI Oscillators are placed below 40 and sloping downwards, Indicating strength in the current downtrend.
- Minus DI is trading above Plus DI while ADX line is placed above 25, Indicating momentum in the current downtrend.
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