Don‘t expect Reliance to go below Rs 840 in Jan: Trivedi

Amit Trivedi, Director of Fin Stream Financial Advisors doesn’t expect Reliance to go down below Rs 840 in the January series.
 
Trivedi told CNBC-TV18, “We think using options could be an interesting way of approaching Reliance Industries. The stock has moved to around Rs 900 and probably there could be some move upside today. Rather than going into calls, we would go and write puts of Reliance Rs 840 strike, which is currently trading around Rs 2 to 2.5 on a margin deployed of Rs 35,000 and that translates to around Rs 500 or 1.5 percent returns, as we don’t expect Reliance to go down below Rs 840 in the January series.