 "Axis Bank branch closed during a raid by Income Tax officials in the Chandni Chowk in New Delhi")
Derivative strategy on Axis Bank by Chandan Taparia of Motilal Oswal Securities:
Option Strategy:
STRATEGY: AXIS BANK : CALL LADDER SPREAD
Buy 1 lot AXIS BANK 510 CE 29 June 2017 @ 16
Sell 1 lot AXIS BANK 530 CE 29 June 2017 @ 8
Sell 1 lot AXIS BANK 540 CE 29 June 2017 @ 5.50
Target: 9000
Stop loss: 3000
Hedge: Buy above 545
Rationale:
1. Axis Bank has been holding near to 500 and forming the higher weekly lows
2. Maximum Put OI at 500 strike suggests hold of the support while intact Call writing at 520-530 would restrict its upside.
3. Indicating positive to range bound move this
