Banknifty is at a critical level at the start of April Month. If there is a Breakout or Breakdown in any direction then we may witness a highly trending month. CMP 33500, Upside can be upto 40000 while breakdown may take Banknifty upto 28950
Strangle Option Strategy Buy 40000 CE 29th April Expiry, CMP Rs 15 (Investment = Rs 375) Buy 28000 PE 29th April Expiry, CMP Rs 51 (Investment = Rs 1275) Total Cost Rs 66 - Investment = Rs 1650
Target - any one option reaches Rs 600 Return = Rs 15,000, Target Profit = Rs 13,350
RnR - 1 : 9
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28000 PE made a high of 225, should have been booked with Trailing SL. Considering Profit of 150 points with TSL, Profit = 150*25 = Rs 3750 40000 CE still active will expire mostly @ Rs 0