 "Stock Market, BSE, NSE, Nifty, Capital")
Stock Markets News: Nifty Today
Strategy Details:
Strategy: Nifty Bull Call Spread
Expiry: 13 FEB 2025
Strikes: Buy 23,600 CE and Sell 24,000 CE
Net Outflow: 155 points
Stop Loss: Entire premium outflow (Max Loss = 155 points)
Strategy Target: 400 (Max Profit = 245 points)
Break-even Point (BEP): 23,755
Rationale:
>> The sharp Nifty rally over the past few days has led to overbought conditions, triggering a corrective retracement as traders book profits or reduce weaker long positions.
>> The 23,800 level aligns with key trendline resistance, temporarily halting the uptrend.
>> However, the correction is expected to find support near the 23,500–23,450 zone, providing a potential entry point for bullish positions.
>> Improved market breadth suggests the resistance at 23,800 is temporary, with a breakout likely to drive Nifty towards 24,500.
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>> A Bull Call Spread is recommended to capitalise on the bullish bias with controlled risk.
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Disclaimer: Sahaj Agrawal is Senior Vice President, Head of Derivatives Research at Kotak Securities. Views expressed are his own.
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