Buy 8700 CE Sep 1 lot
Buy 8600 PE Sep 1 lot
Total Premium: 210
Target: Rs 10000
SL: Rs 5000
· Nifty is oscillating in narrow band of 8550-8700 in past couple of weeks
· Option Data is suggesting 8500-9000 range for September series
· Implied volatility is quoting near the lower end around 12%-13%.
· Considering expected rise in volatility and momentum to pick up in September series long Strangle for is recommended
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Sacchitanand Uttekar is an Equity Technical Analyst at Motilal Oswal Securities