Banknifty is at a critical level at the start of April Month.
If there is a Breakout or Breakdown in any direction then we may witness a highly trending month.
CMP 33500, Upside can be upto 40000 while breakdown may take Banknifty upto 28950
Strangle Option Strategy
Buy 40000 CE 29th April Expiry, CMP Rs 15 (Investment = Rs 375)
Buy 28000 PE 29th April Expiry, CMP Rs 51 (Investment = Rs 1275)
Total Cost Rs 66 - Investment = Rs 1650
Target - any one option reaches Rs 600
Return = Rs 15,000, Target Profit = Rs 13,350
RnR - 1 : 9