FII added long positions in sbin futures expiry 23feb2017, thus expecting the price to go up.
The stock may continue its bullish trend after consolidation. But i am not sure about the trade plan.
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Buy CE 275 @ 7.4
Sell CE 290 @ 2.2
Lot size 3000
Max loss 15600 ( 5.2 * 3000)
Max profit 29400
Break-even @ 280.2