Option Strategy on Bank of Baroda by Motilal Oswal Securities
Short covering followed by fresh long suggests a bounce back move on the stock
 "Option Strategy on Bank of Baroda by Motilal Oswal Securities")
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Strategy:
Option Strategy:
BANK OF BARODA : BULL CALL SPREAD
Buy 165 CE 1 lot
Sell 170 CE 1 lot
Reward : 11200 Risk : 6300
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Rationale:
1. It has given reversal on weekly chart by forming a Hammer candle
2. Short covering followed by fresh long suggests a bounce back move
3. Fresh Put writing at 160 strike could provide the support
4. Call unwinding in 165 and 170 strike propel for an up move
5. Thus low risk strategy Bull Call Spread is recommended
Disclaimer: Chandan Taparia is a Derivatives and Technical Analyst at Motilal Oswal Securities.
The analyst may have positions in any or all the stocks mentioned above.
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