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Bull spread strategy on Bharat Forge by Nandish Shah of HDFC Securities

The stock's primary trend is positive where it is trading above all important moving averages

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Nandish Shah Mumbai
Buy BHARAT FORGE MAY 650 CALL at Rs 25 and simultaneously sell 680

CALL at Rs 15

Lot Size: 1,500

Cost of the strategy: Rs 10 (Rs 15,000 per strategy)

Maximum profit: Rs 30,000 If Bharat Forge closes at or above 680 on 27 May expiry.

Breakeven Point: Rs 660

Rationale:

-- We have seen long build-up in the Bharat Forge Futures during the May series till now where we have seen 7 per cent rise in the Open Interest with price rising by 7 per cent.

-- The stock's primary trend is positive where it is trading above all

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