Here's a Bull Spread Strategy on Bajaj Auto by HDFC Securities

Bull spread Strategy on Bajaj Auto 

Buy Bajaj Auto Dec 3,150 Call at Rs 118 & simultaneously sell Dec 3,300 Call at Rs 61 

Lot Size: 250.  

Cost of the strategy: Rs 57 (Rs 14,250 per strategy) 

Maximum profit: Rs 23,250 If Bajaj auto closes at or above 3,300 till Dec 31 expiry

Breakeven Point: Rs 3,207 

Rationale: 

-- Long build-up is seen in the Bajaj Auto Futures’ where we have seen 11 per cent rise in the Open Interest with price rising by 3 per cent 

-- Stock price has broken out on the daily chart with higher volumes where it closed at nine-month high

-- Primary trend