Buy Sell Ideas
Bull Spread strategy on MANAPPURAM FINANCE
Buy Manappuram Finance
October 140 Call at Rs 4.65 & simultaneously sell 150 call at Rs 1.65
Cost of the strategy Rs 3 (Rs 18000 per strategy)
Maximum profit Rs 42000 If Manappuram Finance
closes at or above 150 on October expiry.
Break even Point Rs 143
Accumulation of Long build up is seen in the Manappuram Finance Futures’ during the series till now, where we have seen 5 per cent rise in the Open Interest with price moving up by 2 per cent.
Stock price has already given breakout on the monthly chart.
Stock price is trading above its 5,20 and 200 day SMA Indicating positive trend for the short to medium term.
Oscillator and momentum Indicators like RSI and MACD has been showing strength on the daily and weekly charts.
In the option segment, we have seen 71% addition in 150 strikes Call Option in the last two days, suggesting Call buying.