Buy COLGATE 1760 CALL at Rs 29 & simultaneously sell 1800 CALL at Rs 17 Lot Size 350 Maximum profit Rs 9800 If Colgate closes at or above 1800 on 29 July expiry. Breakeven Point Rs 1772
Rationale: We have seen long build up in the Colgate Futures where we have seen 4 per cent (Prov) rise in the Open Interest with price rising by 1.3 per cent. The stock price has broken out on the daily chart where it closes at all time high levels Plus DI is trading above Minus DI while ADX line is placed above 25, Indicating momentum in the uptrend. RSI Oscillators is placed above 60 and slopping upwards, Indicating strength in the current uptrend.