Derivatives Strategy - Covered Call - Bajaj Finance - ICICI Securities

Recommendation

Buy Bajaj Finance July future at Rs. 3245-3265 & Sell 3400 Call at Rs. 150-160
Target: Rs. 3555
Stop loss: Rs. 3010
Time frame: Till July expiry

Rationale

BFSI stocks remained in focus as the Nifty rallied towards 10800. However, most banking stocks saw writing in ATM Calls. NBFC stocks continued to outperform and saw long additions.

Among leaders, Bajaj Finance saw a sharp reversal from the bottom and has largely remained resilient above Rs. 3000 levels.

For details, click on the link below: https://www.icicidirect.com/mailimages/IDirect_DerivativesStrategy_BajajFinance_Jul20.pdf

Shares of Bajaj Finance Limited was last trading in BSE at Rs.3147.9 as compared to the previous close of Rs. 3190.35. The total number of shares traded during the day was 528357 in over 33603 trades.

The stock hit an intraday high of Rs. 3296.9 and intraday low of 3121.85. The net turnover during the day was Rs. 1710059765.

Source : Equity Bulls

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