The tensions of the war between Russia and Ukraine dominate the market. Nifty also slipped below 16200 today, although recovering at this time Nifty is trading near 16400. Bank Nifty is still weaker than Nifty. In such a situation, we will understand through the data of options which range the writers are seeing for the next week. Our Today Expert Market Expert is Vinay Rajani at Future Express of CNBC-Awaaz. Vinay also gave cheap option with strong trades.
Shares holding today’s FRESH LONG Rolls in Futures Market
INTELECT, GNFC, STAR and LTI
Shares holding today’s FRESH SHORTS Rolls in Futures Market
IRCTC, ASHOK LEYLAND, GODREJ PROP and ASIAN PAINTS
Shares holding today’s LONG UNWINDING Roles in Futures Market
ONGC, JSPL, EXIDE and NALCO
Today at 12 noon, most call writers on Nifty were seen at the level of 16500, 16400 and 16300.
Today at 12 noon, the most put writers on Nifty were seen at the level of 16100, 16000 and 15900.
Today at 12 noon, most call writers on Bank Nifty were seen at the level of 35500, 35400 and 35300.
Today at 12 noon, the highest put writers on Bank Nifty were seen at the level of 34500, 34600 and 35000.
Russia-Ukraine war: The country’s defense budget may increase due to Russia-Ukraine war, shares of these indigenous defense companies will rise
Market expert Vinay Rajani’s opinion on the market
Giving opinion on the market, Vinay Rajani said that the negative trend will remain on the market. Weakness was seen in Nifty today. Apart from this, Bank Nifty is underperforming more than Nifty. Today the banking and IT baskets also look weak. Overall, the structure looks negative to the market. We also saw the formation of an intraday low of 34100 in Bank Nifty.
So our opinion on bank nifty is that if any pull back appears in this index then we should trade with sell on rise strategy. At the same time, on Nifty too, there will be a selling opinion on this day. Selling should be done in Nifty at 16250 level. In this, by putting stoploss at 16400, you can make a short position in Nifty for the target of 16050.
Today’s Trading Ideas of Vinay Rajani
L&T Tech Ser Mar Fut : Buy – Rs.4654, Target Rs.-4850, Stoploss – Rs.4550
Shriram Transport Mar Fut : Sell – Rs 1078, Target Rs 1050, Stoploss – Rs 1100
Vinay Rajani suggested today’s cheapest option : LT
Vinay said that it is advisable to take cheap option in the form of a pull call in this stock. Buy its March Series Put Call with strike of 1700 at Rs 53 level. Put a stop loss at Rs 38 in this. In the March series, the target of Rs 83 can be seen coming in it.
(Disclaimer: The views and investment advice given on moneycontrol.com are the personal views and opinions of investment experts. Moneycontrol advises users to consult a certified expert before making any investment decision.)
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