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Bullish Bets Unfold: Nifty Midcap, Biocon Spark F&O Action with Bull Spread Strategies

Updated: July 04, 2025 09:37

Traders are turning tactically bullish on the Nifty Midcap index and Biocon Ltd, deploying bull call spread strategies to ride the July expiry wave. The setups reflect growing confidence in both the broader midcap rally and Biocon’s technical breakout.
 
Nifty Midcap Bull Spread (July 31 Expiry):
  • - Strategy: Buy 13,500 Call at ₹261; Sell 13,700 Call at ₹165
  • - Cost: ₹96 per spread (₹13,440 per lot of 140 units)
  • - Max Profit: ₹14,560 if Nifty Midcap closes at or above 13,700
  • - Breakeven: ₹13,596
- Rationale:
  • - 3% rise in open interest signals long build-up
  • - Index trades above 5, 11, 20, 50, and 100-day EMAs
  • - Bullish higher-top, higher-bottom pattern on daily charts
  • - Weekly breakout from downward trendline confirms momentum
Biocon Bull Spread (July 31 Expiry):
  • - Strategy: Buy ₹380 Call at ₹9.4; Sell ₹390 Call at ₹5.9
  • - Cost: ₹3.5 per spread (₹8,750 per lot of 2,500 units)
  • - Max Profit: ₹16,250 if Biocon closes at or above ₹390
  • - Breakeven: ₹383.5
- Rationale:
  • - 5% rise in open interest with 7% price gain in July series
  • - Stock trades above short-term EMAs with bullish chart structure
- RSI and MFI above 60, indicating strong momentum
Pro Tip: Analysts recommend booking profits once ROI exceeds 20%, given the defined risk-reward structure.
 
These strategies reflect a calculated optimism in India’s midcap momentum and Biocon’s technical strength—ideal for traders seeking capped risk with defined upside.
 
Source: Business Standard, HDFC Securities

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