Markets have seen a sharp correction over the past few days, which factors in most budget related volatility. Today we could actually see lesser than normal volatility as most participants are discounting the budget with clear outlook on timelines rather than dramatic changes.
Globally markets have consolidated & we should see the Nifty see intra-day volatility with 7500 & 7750 being the two goal posts.
For today we are carrying our option strategies as under:
Option strategy for next 4-5 days:
1. Buy Infosys 3200 put @ 72, stop loss 42, target 122
2. Buy ITC 325 put @ 7, stop loss 3, target 25
3. Short strangle on Nifty:
Sell 7500 put @ 96
Sell 7700 call @ 117
Stop loss 253
Look for contraction in premiums to buy around 113