Option strategy on Zee Entertainment by Chandan Taparia of MOSL
Strategy: ZEE ENTERTAINMENT ENTERPRISES: BULL CALL SPREAD BUY ZEEL 520 CALL SELL ZEEL 540 CALL BEP : 527 MAX RISK : 7 POINTS / KEEP SL OF : Rs. 5000
MAX REWARD : 13 POINTS / KEEP TARGET OF : Rs. 10000 RATIONALE: 1) Respected to its multiple support of 500-505 zones and has been consolidating near to support zones 2) Supports are slightly shifting higher and a small follow could lead it to 540 zones 3) Hovering near to its 50 DEMA 4) Rollover of 82% with positive roll cost suggests an up move 5) Thus low risk Bull Call Spread is recommended
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