IDEA CELLULAR
Option Strategy: IDEA ( Call Butterfly Spread)
BUY APRIL 1 LOT 115 CE SELL APRIL 2 LOTS 120 CE
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BUY APRIL 1 LOT 125 CE
TARGET : Rs 6000
Stop Loss: Rs 1000
RATIONALE: Telecom sector saw long built up in March series and roll-over in line with 3M average. Idea have been in long- long Unwinding Cycle. Further unwinding in 110 CE could augur fresh momentum towards 120 level. Considering stable implied volatility , Call Butterfly spread is recommended.
