 "Buy Sell Ideas")
Bull Spread strategy on MANAPPURAM FINANCE
Buy Manappuram Finance October 140 Call at Rs 4.65 & simultaneously sell 150 call at Rs 1.65
Lot Size 6000
Cost of the strategy Rs 3 (Rs 18000 per strategy)
Maximum profit Rs 42000 If Manappuram Finance closes at or above 150 on October expiry.
Break even Point Rs 143
Rationale:
-
Accumulation of Long build up is seen in the Manappuram Finance Futures’ during the series till now, where we have seen 5 per cent rise in the Open Interest with price moving up by 2 per cent.
- Stock price has already given breakout on the monthly chart.
