Derivatives Strategy - Kotak Bank - Covered Call - ICICI Securities

Recommendation

Buy Kotak Bank July future at Rs. 1340-1350 & Sell 1380 Call at Rs. 24-28
Target: Rs. 1406
Stop loss: Rs. 1280
Time frame: Till July expiry

Rationale

The Bank Nifty relatively underperformed the Nifty as it managed to move and close above 11000. However, the Bank Nifty is struggling below its highest Call base of 23000.

From the bottom, most private banks saw a sharp reversal, which also pulled the Bank Nifty higher. However, after the initial up move, Kotak Mahindra Bank has consolidated since last month.

For details, click on the link below: https://www.icicidirect.com/mailimages/IDirect_DerivativesStrategy_KotakBank_Jul20.pdf

Shares of KOTAK MAHINDRA BANK LTD. was last trading in BSE at Rs.1358.75 as compared to the previous close of Rs. 1318.6. The total number of shares traded during the day was 130835 in over 6955 trades.

The stock hit an intraday high of Rs. 1362.7 and intraday low of 1326.65. The net turnover during the day was Rs. 176505422.

Source : Equity Bulls

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