 "Axis Bank")
Bull spread Strategy on AXIS BANK
Buy AXIS BANK JUNE 760 CALL at Rs 25 & simultaneously sell 790 CALL at Rs 14
Lot Size: 1200
Cost of the strategy: Rs 11 (Rs 13,200 per strategy)
Maximum profit: Rs 22,800 if Axis Bank closes at or above 790 on 24 June expiry.
Breakeven Point: Rs 771
Rationale:
>> We have seen an aggressive long build up in the Axis Bank Futures where we have seen 22%(Prov) rise in the Open Interest with price rising by 2%.
>> The stock price has already broken out from the downward slopping trendline on
