Unlock the potential of your trades in April 2024 with our expertly curated recommendations. Dive into a month of strategic investment decisions and maximize your market gains.
Recommendation 5 - 15th April'24
Nifty closed lower on April 12 for the first time since March 19. Weekly RSI shows bearish divergence despite higher highs in price. Put-Call ratio fell below 1, indicating bearish sentiment. FPIs reduced long positions in Index futures. To capitalize, consider a bear put spread in NIFTY: buy 22,300 put option at 472 and sell current month Nifty futures at 420 (25th Jan expiry). Capital required: around 35,000. Maximum profit is unlimited; maximum loss: 5,785. Profitable if NIFTY closes below 22,284 by April 25 (monthly expiry).
Recommendation – NIFTY (Bear Put Spread Strategy)
Strategy – Bear Put Spread 25th April 2024
PUT 22,300 – Buy @ 148
PUT 22,000 – Sell @ 69
Max Profit – 11,080/-
Max Loss – 3,920/-
Breakeven – 22,221/-
Margin Required – 30,000/-
Risk to Reward – 1:2.83
Recommendation 4 - 12th April'24
BANKNIFTY's 6% surge in 13 sessions signals a robust uptrend, breaking its all-time high. Notably, significant options activity at the 49,000 Strike offers directional cues. To capitalize, consider a Bull Call Spread: Buy 48,900 CALL at 473 and sell 49,400 CALL at 256 (both expiring on 24th April), requiring around 25,000 capital. Potential profit is 4,237 with a maximum loss of 3,263. The strategy profits if BANKNIFTY closes above 49,118 on 24th April.
Recommendation – BANK NIFTY (Bull Call Spread Strategy)
Contract – BANK NIFTY Bull Call Spread 24th Apr 2024
CALL 48,900 – Buy @ 473 (1 lot)
CALL 49,400 – Sell @ 256 (1 lot)
Max Profit – 4,237/-
Max Loss – 3,263/-
Breakeven – 49,118/-
Margin Required – 25,000/-
Probability of Profit (POP) – 43%
Recommendation 3 - 10th April'24
NIFTY hit an all-time high of 22,768 on April 9, 2024, continuing an uptrend since March 21, up nearly 4%. To capitalize on this momentum, a Bull Call Spread can be deployed: buying 1 lot of 22,700 CALL at 161 and selling 1 lot of 23,000 CALL at 42, expiring on April 18. Initial capital required is 30,000. Maximum profit is 9,045 with a maximum loss of 5,955. Strategy yields profit if NIFTY closes above 22,820 on April 18th.
Recommendation – NIFTY (Bull Call Spread Strategy)
Contract – NIFTY Bull Call Spread 18th Apr 2024
CALL 22,700 – Buy @ 161 (1 lot)
CALL 23,000 – Sell @ 42 (1 lot)
Max Profit – 9,045/-
Max Loss – 5,955/-
Breakeven – 22,820/-
Margin Required – 30,000/-
Probability of Profit (POP) – 36%
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Recommendation 2 - 09th April'24
Bank Nifty near all-time high with a doji candle signaling indecision. Uptrend from March low, up 6%. Option activity at 48,500 Strike key. Breakout above 48,717 could drive further rally. Strategy: Bull Call Spread - buy 48,600 CALL at 414, sell 49,000 CALL at 224 (16th April expiry). Capital needed: 25,000. Max profit: 3,147, max loss: 2,853. Profit if Bank Nifty closes above 48,791 on 16th April.
Recommendation – BANKNIFTY (Bull Call Spread Strategy)
Contract – BANKNIFTY Bull Call Spread 16th Apr 2024
CALL 48,600 – Buy @ 414 (1 lot)
CALL 49,000 – Sell @ 224 (1 lot)
Max Profit – 3,147/-
Max Loss – 2,853/-
Breakeven – 48,791/-
Margin Required – 25,000/-
Probability of Profit (POP) – 44%
Recommendation 1 - 08th April'24
FINNIFTY closed near 21,550-21,600 resistances on 5th April, suggesting potential breakout above 21,580. Bears dominate at 21,600 Strike. A Bull Call Spread strategy entails buying 21,600 CALL at 81 and selling 21,750 CALL for around 30,000 capitals. Profit potential is 3,918 with a maximum loss of 2,082. Profit occurs if FINNIFTY closes above 21,652 on 9th April.
Recommendation – FINNIFTY (Bull Call Spread Strategy)
Contract – FINNIFTY Bull Call Spread 9th Apr 2024
CALL 21,600 – Buy @ 81 (1 lot)
CALL 21,750 – Sell @ 29 (1 lot)
Max Profit – 3,918/-
Max Loss – 2,082/-
Breakeven – 21,652/-
Margin Required – 30,000/-
Probability of Profit (POP) – 45%
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