Here's a Bull Spread strategy on Sun Pharma by Nandish Shah of HDFC Sec

The stock price has witnessed running correction of 10 per cent from the recent high

Bull spread Strategy on Sun Pharma 

Buy Sun Pharma Feb 650 Call at Rs 20 & simultaneously sell Feb 680 Call at Rs 10 

Lot Size: 1,400 

Cost of the strategy: Rs 10 (Rs 14,000 per strategy) 

Maximum profit: Rs 28,000 If Sun Pharma closes at or above 680 on 25 Feb expiry. 

Breakeven Point: Rs 660 

Rationale: 

-- Long build-up was seen in Sun Pharma Futures’ where we have seen 7 per cent rise in the Open Interest with price rising by 2 per cent. 

-- The stock price has broken out on the daily chart, where it closed at highest level since September 2018, with higher