Here is the derivative strategies on Indiabulls Housing Finance from Sacchitanand Uttekar of Motilal Oswal for trade today:
Option Strategy:
Indiabulls Housing Finance Call Ladder Spread
Sell 880 Oct CE 1 lot
Sell 880 Oct CE 1 lot
Target: 14000
SL: 2000
Hedge: Above 890
Rationale:
1. Indiabulls Housing Finance is in long –long unwinding cycle
2. Put accumulation at 820 & 800 PE could act as a vital support
3. Unwinding in 840 CE could see upside momentum picking up
4. Further to take benefit of theta decay, Call Ladder Spread is recommended
Option Strategy:
Indiabulls Housing Finance Call Ladder Spread
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Buy 840 Oct CE 1 lot
Sell 880 Oct CE 1 lot
Sell 880 Oct CE 1 lot
Target: 14000
SL: 2000
Hedge: Above 890
Rationale:
1. Indiabulls Housing Finance is in long –long unwinding cycle
2. Put accumulation at 820 & 800 PE could act as a vital support
3. Unwinding in 840 CE could see upside momentum picking up
4. Further to take benefit of theta decay, Call Ladder Spread is recommended