Lot size: 500
Cost of the strategy: Rs 33 (Rs 16,500 per strategy)
Maximum profit: Rs 33,500 If Deepak Nitrite closes at or above 2,000 on July 29 expiry
Breakeven Point: Rs 1,933
Rationale: We have seen long build up in the Deepak Nitrite Futures where we have seen 4 per cent (Prov) rise in the Open Interest with Deepak Nitrite rising by 4 per cent The stock price has broken out on the daily chart where it has closed at highest levels since May 06, 2021 with higher volumes Plus DI is trading above Minus DI while ADX line is rising, Indicating that the stock is likely to gather momentum in the coming days
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