The market is dominated by bulls on the day of weekly expiry. With no surprise decision from the US Federal Reserve, the market opened with a gap up. After the increase in trading, the market managed to stay in the upper levels. Nifty has reached near 17300. On the other hand, Bank Nifty has jumped more than 800 points and has crossed 36500. Today put writers have the upper hand. Through the data of the options, we will know at what levels the expiry can be done today. Our Today Expert at CNBC-Awaaz’s Future Express is Nilesh Jain of Centrum Broking. Nilesh suggests a cheaper option with his strong calls.
Shares holding today’s LONGS Rolls in Futures Market
TRENT, WHIRLPOOL, GODREJ PROPERTIES AND TITAN
Shares with Today’s SHORT COVERING ROLE in Futures Market
HDFC, EICHER MOTERS, MOTHERSON and KOTAK BANK
Shares with Today’s SHORTS Roles in Futures Market
NALCO, APOLLO HOSPITAL, ABB and ATUL
Today at 12 noon, Nifty saw the highest number of call writers at the levels of 16700, 16800 and 16900.
Today at 12 o’clock in the Nifty, most put writers were seen at the levels of 16500, 16400 and 16300.
Today at 12 noon, most call writers in Bank Nifty were seen at the levels of 34800-34900-35000.
Today at 12 noon, Bank Nifty saw the highest number of put writers at the levels of 34500-34400-34300.
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Nilesh Jain of Centrum Broking on the market
Giving his opinion on the market, Nilesh Jain said that on a festival like Holi, nothing could have been better than this in the market. The market has given a Holi gift to investors and is open with a gap-up. It has also slowed down the bearish environment that has been going on for the last one month to some extent today. A new support level has been seen forming in Nifty from today’s gap-up. Apart from this, today’s uptrend along with the gap is expected to continue in the coming sessions as well.
Giving a buying opinion on Nifty, Nilesh said that buying can be done at the level of 17300. Levels of 17500 can also be seen in this, although stoploss should also be placed at the level of 17175.
Commenting on Bank Nifty, he said that it is outperforming since last 3 sessions. The move that has come in this appears to be a move that is going to continue even further. So in this also we would be advised to take long positions. He said that buying can be done at the level of 36500 for the target of 37500.
Centrum Broking’s Nilesh Jain Earning Stocks
Adani Ports Mar Fut : Buy – Rs 739, Stop Loss – Rs 729, Target – Rs 760
Grasim Mar Fut : Buy – Rs 1641, Stop Loss – Rs 1618, Target – Rs 1680
Bharti Airtel Mar Fut : Buy – Rs 727, Stoploss – Rs 718, Target – Rs 750 to 755
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Affordable option with high earnings: JSW Steel
Nilesh Jain has chosen steel sector stock to tell today’s cheap option. He said buy JSW Steel’s March Series 700 strike call near Rs 18. A target of Rs 30 can be seen in this. Along with this, stoploss should also be placed below Rs 13.
(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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