NIFTY Bull Call Ladder

11th February 2011

NIFTY BULL CALL LADDER

I tit ti
Institutional
l Equities
E iti T d Rationale
Trade R ti l

„ Samir Gilani „ Trade:

+91-22-61 544 562
„ Buy NIFTY Mar-11 5200 Call @ 190
samir.gilani@mapegroup.com
„ Sell
S ll NIFTY Mar-11
M 11 5400 C
Callll @ 95
„ Deepak Jorwal
„ Sell NIFTY Mar-11 5500 Call @ 62
+91-22-61 544 570
deepakj@mapegroup.com „ Cumulative premium will be cost of INR 33

„ Devanshu Soni
+91-22-61 544 566 ƒ Rationale:
devanshu@mapegroup.com
ƒ Index has lost ~13.5% YTD, we are expecting a pre budget relief rally up to
Tickers 5500.To Capture this we recommend to initiate Bull Call Ladder Strategy.

„ NSE Ticker: ƒ On the negative side, there are rising local concerns like Political
NIFTY uncertainty, Corporate governance issues, Inflation as well as global

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„ Bloomberg Ticker: concerns of Egypt and China hiking interest rates.
NIFTY INDEX
ƒ Above rationales suggest towards a positive conservative outlook in Nifty for

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„ Bloomberg Ticker of Options: Short term.
NIFTY 3/11 C5200 INDEX
NIFTY 3/11 C5400 INDEX
NIFTY 3/11 C5500 INDEX

Source: MAPE Research, Bloomberg, NSE

Note:

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 St t
Strategy: Bull
B ll C
Call
ll L
Ladder
dd

Buy / Sell Qty Scrip Expiry Month Strike Price Option Type Market Price
Buy 50 NIFTY 31-Mar-11 5300 Call 141

Sell 50 NIFTY 31-Mar-11 5500 Call 67

Sell 50 NIFTY 31-Mar-11 5600 Call 42

Max Profit 168 @ 5500

Max Risk 33 Below 5332 & Unlimited Above 5768

Expected Returns

NIFTY Level Profit / Loss

5250 -32
5300 -32

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5350 18
5400 68

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5450 118
5500 168
5550 168
5600 168
5650 118
5700 68
5750 18

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 St t
Strategy P
Performance
f

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(Exhibit 2 : Strategy Performance)

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Disclaimer

MAPE Advisory
Ad i Group
G Pvt.
P t Ltd.
Ltd (“MAPE”) is
i issuing
i i this
thi Information
I f ti Docket
D k t (“ID”) in
i connection
ti with
ith the
th proposed
d Client’s
Cli t’ b business
i
(“Transaction”) for which MAPE has been retained as an exclusive financial advisor.

Information provided herein with respect to the industry and the competitors has been compiled from publicly available sources,
including official publications and research reports, and is given as general information. It has not been independently verified either by
MAPE or its Client. Neither MAPE nor its Client or any of their directors, officers, employees, affiliates, representatives and advisors
makes any representation or warranty with respect to the accuracy or completeness of the information contained herein. The
information contained herein shall not form the basis of any contract.

The ID does not purport to contain all the information that the recipient may require. In making any decision regarding the Transaction,
the recipient should conduct its own investigation and analyses of information contained in this ID and the recipient must rely on its own
examination and the terms of the Transaction, as and when discussed. Recipients should not construe any of the contents herein as
advice relating to business, financial, legal, taxation or investment matters and are advised to consult their own business, financial,
legal, taxation and other advisors concerning the Transaction

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