Kotak Bank may bounce from the swing. My setup will be Kotak Bank futures or Kotak Bank August 990 PE at 11.55.

If Kotak Bank consolidates; I will head for Kotak Bank August 990 CE at 23.10 and Kotak Bank August 990 PE at 11.55 for which will constitute a straddle then.

Initial Credit = 23.10+11.55 = 34.65
Upside Breakeven = 996.20 + 34.65 = 1030.85
Downside Breakeven = 996.20 - 34.65 = 961.55

Fundamentally it has contributed huge to the NIFTY and the asset quality has stregthned huge and loan book increased in this quarter.
Aug 09
Comment: Hedge Triggered yesterday on 990 CE
Aug 29
Comment: Our last Trade of Kotak Bank has gone into profit as of now. Thanks to the hedge!

Our entry for the Kotak Bank was 995 and stop loss at 982. Net Loss = 13 points
Our entry for Kotak Bank August 990 PE was at 11.55. Current Value is 27. Net Loss = 15.45 points

Hedge Trade was Kotak Bank August 990 CE which was at 23.10. Current Value is 1.10. Net profit = 22 points

Profit in the net setup of Kotak Bank Buy and 990 CE sell is 22-13 = 9 points
Profit in the net setup of Kotak Bank August 990 PE and Kotak Bank August 990 CE sell is = 22-15.45 = 6.55 points

990 CE will be left open towards expiry; so there is more leg room for the profit for 1.1 points.
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