MAHINDRA & MAHINDRA
M&M Strategy: Call Ladder Spread
Buy Jun 1380 CE 1 lot
Sell Jun 1420 CE 1lot
Sell Jun 1440 CE 1 lot
Target: Rs 1640
Stop Loss: Above Rs 1480
Rationale: M&M is in long -long unwinding cycle. Positive sector outlook along with unwinding in Rs 1360 CE could augur well for upside momentum. Considering stable volatility and to benefit from theta decay, Call Ladder Spread is recommended.
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Sacchitanand Uttekar is an Equity Technical Analyst at Motilal Oswal Securities