Just a day before the budget 2022, the enthusiasm of buying continues in the market on the trading day. Nifty has managed to stay above 17300. Today Nifty is outperforming against Bank Nifty. So, we will try to understand through the options data which range the writers are seeing for this week. At CNBC-Awaaz’s Future Express, our today’s expert Ashish Baheti of NAV Investment Research. Ashish also offered a cheaper option with his strong calls.
Shares with FRESH LONG Rolls in the futures market today
NAUKRI, MINDTREE, LTI and UBL
Shares with SHORT COVERING ROLES in the futures market today
BSOFT, GODREJ PROP, DRL and BIOCON
Shares with FRESH SHORTS Roles in Futures Market today
DIXON, INDUSIND BANK, KOTAK BANK and VEDL
During today 12 o’clock in Nifty, maximum call writers were seen at the level of 18200, 18300 and 18500.
During today 12 o’clock in Nifty, maximum put writers were seen at the level of 18200, 18100 and 18000.
During 12 o’clock in Bank Nifty today, most call writers were seen at the level of 38000, 38200 and 38500.
During 12 o’clock today in Bank Nifty, maximum put writers were seen at the level of 38000, 37900 and 37500.
NAV Investment Research’s Ashish Baheti’s opinion on the market
Giving his opinion on the market, Ashish Baheti of NAV Investment Research said that a day before the budget, today Nifty saw good growth. Along with Reliance, the Nifty is expected to rise due to the boom in the IT, banking sector, but at the same time the market may remain volatile, it is also important to pay attention to it. You can buy Nifty with a stop loss of 17250. In this, the level of 17500 can be seen.
Giving his opinion on Bank Nifty, Ashish said that when it comes to Bank Nifty, today only IndusInd Bank and Kotak Mahindra Bank are showing slowdown but PSU banking sector is performing well. Good buying is being seen in SBI, Canara Bank and Bank of Baroda, so we will have a buying opinion in Bank Nifty as well. Buy Bank Nifty with a stop loss of 37600. The 38400 level can be seen in this. He said that today due to volatility in the market, profit recovery can also be seen in it, so do not forget to put stoploss.
On the other hand, giving his perspective on how far Nifty can jump due to the enthusiasm in the budget and how far it can fall due to the disappointment from the budget, Ashish Baheti said that the level of 18000 is also open for Nifty when the market gets excited due to the budget. But if the market is disappointed, it can be seen staying at the level of 17000.
Today’s Trading Ideas by Ashish Baheti of NAV Investment Research
United Spirits Feb Fut : Buy – Rs.871, Stoploss – Rs.855, Target – Rs.900
Cipla Feb Fut : Buy – Rs 947, Stop Loss – Rs 935, Target – Rs 975
Hero Motocorp Feb Fut : Buy – Rs 2647, Stop Loss – Rs 2600, Target – Rs 2700
Reliance Feb Fut : Buy – Rs 2405, Stoploss – Rs 2375, Target – Rs 2450
(Disclaimer: Network 18 Media & Investment Ltd. is owned by Independent Media Trust. Its beneficiary company is Reliance Industries.)
Affordable option suggested by Ashish Baheti for today: Wipro
Ashish Baheti chose the stock of the IT sector giant as a cheap option today. He said that if you buy in Wipro, it will see more speed. As an option he said buy its 580 strike call around Rs.17. In this, the target of Rs 30 will be seen coming. However, a stop loss should also be placed at Rs 10.
(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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