On the next day of the budget also, there is a strong rally in the market. Nifty has crossed 17700 and Bank Nifty has crossed 39000. Today Bank Nifty is OUTPERFORM. In such a situation, we will try to understand through the options data, which range the writers are looking for tomorrow’s expiry. Our Today Expert at CNBC-Awaaz’s Future Express is Rajesh Palviya of Axis Securities. Rajesh also offered cheap option with his strong trades.
FRESH LONG was seen in these stocks in the futures market today
Vodafone, Canfin Home, Indusind Bank and Canara Bank
SHORT COVERING was seen in these stocks in the futures market today
Bajaj Finserv, Dixon, India Mart and Deepak Nitrite
FRESH SHORTS seen in these stocks in the futures market today
Tech Mahindra, Chambal Fertilser, Balkrishna and Persistent
Today at 12 noon, the highest call writers in Nifty were seen at the level of 18200, 18300 and 18500.
Today at 12 noon, the most put writers in Nifty were seen at the level of 18200, 18100 and 18000.
In the game of stock market, the stock of 1 player gave a return of 4.5% on the second day, know where the players bet today
Today at 12 noon, most call writers in Bank Nifty were seen at the level of 38000, 38200 and 38500.
Today at 12 noon, the most put writers in Bank Nifty were seen at the level of 38000, 37900 and 37500.
Market opinion of Rajesh Palviya of Axis Securities
Commenting on the market, Rajesh Palviya of Axis Securities said that the market is showing good momentum in the last three days. Nifty and Bank Nifty have seen good growth. We have positive views on both Nifty and Bank Nifty. Talking about Nifty, at this time, profit should be made in Nifty at the level of 17800 to 17850, but if any fall is found, then it should be bought again. We believe that if Nifty falls to the level of 17700 or 17680, then it should be considered as a buying opportunity. Should buy it for target of 17850. It should put a stop loss of 17600.
Talking about Bank Nifty, Nifty has outperformed well today. It has broken its Crucial Level of 39000 and is currently trading around 39300. If Bank Nifty holds above the level of 39300, then the level of 39600 to 39650 will also be seen coming in it. If Bank Nifty falls near 39100, then it will be a buying opportunity. By buying at this level, a stoploss of 38900 should be placed in it. In this, easy targets of 39600 to 39800 should be seen.
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Today’s strong trades by Rajesh Palviya of Axis Securities
TCS Feb Fut : Buy – Rs 3866, Stop Loss – Rs 3820, Target – Rs 3940
Indusind Bank Feb Fut : Buy – Rs 966, Stop Loss – Rs 950, Target – Rs 990
Apollo Hospital Feb Fut : Buy – Rs 4648, Stop Loss – Rs 4590, Target – Rs 4800
Affordable option recommended by Rajesh Palviya: Kotak Bank
Rajesh Palviya said that Bank Nifty is performing well, so today we have chosen the share of Banking Basket as a cheap option. For this, one should bet on the government bank Canara Bank. Buy Canara Bank February Series 1960 strike call option near Rs 42. Put a stop loss at Rs.32 in this. In this, the target of 62 to 65 rupees will be seen coming.
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