1) GAIL - India's leading gas exploration company in India - is a part of India's benchmark Index - NIFTY.
2) In the last one week, this stock has taken some major addition in Open Interest which indicates some major positions being taken by Institutions.
3) These positions are taken in July and August Futures. Both the futures contracts have added 10 Lakh shares in Open Interest on Friday. Total Open Interest stands at 20 Lakhs for July futures and August respectively.
4) It is advised to go for Straddle strategy where one may buy both 290 Calls and Puts for the stock for July / August and hold till 10th July.
5) Some major announcement is expected, which is usually precluded by such institutional activity.
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