The market is looking bright on the first day of the February futures series. Nifty is trying to stay above 17300 since morning, although at this time it is seen trading around 17250. Today Nifty is outperforming against Bank Nifty. Today IT stocks are showing the most enthusiasm. In such a situation, we will try to understand through the data of the options which range the writers are seeing for the next week. Our expert today is Amit Seth, Market Expert. Amit also gave cheap option with his strong calls.
Shares with Today’s FRESH LONG Roles in the Futures Market
CANFIN HOME, COFORGE, BATA AND DEEPAK NITRITE
SHARES WITH TODAY SHORT COVERING ROLE IN FUTURE MARKET
LIC HSG FIN, MINDTREE, M&M FIN and PERSITATNT
Shares with Today’s FRESH SHORTS Roles in the Future Market
TVS MOTORS, RBL BANK, MARUTI AND BANDHAN BANK
In Nifty today at 12 noon, the levels of 18200, 18300 and 18500 were the most active call writers.
The levels of 18200, 18100 and 18000 were the most active put writers in Nifty today at 12 noon.
In Bank Nifty today at 12 noon, the levels of 38000, 38200 and 38500 were the most active call writers.
The levels of 38000, 37900 and 37500 were the most active put writers in Bank Nifty today at 12 noon.
In the earning game of the stock market, only 1 player earned positive returns in 3 days, where are their eyes on the last day of the week
Market expert Amit Seth’s opinion on the market
Giving his opinion on the market, Amit said that after many days we saw a slight recovery in the market yesterday. Bank Nifty and Nifty showed slight improvement despite expiry. After yesterday’s good recovery, today the market is seeing a good recovery and Nifty is trading with an increase after yesterday’s level. This increase is also visible in Nifty due to the upcoming budget. Bank Nifty is also outperforming and overall market trend remains positive.
In Nifty, we can see the level of 17500 to 17600 due to the budget and we can see good support at the level of 17200. Apart from this, a good pullback is also visible in Bank Nifty. As long as Bank Nifty holds the level of 37700, we believe that 39000 levels can also be seen in it. Amit further said that in the February future trade in Nifty Bank, one should buy at the level of 38473. In this, the target of 39000 will be seen as well as stoploss should be placed at 37700 in it.
Today’s Trading Ideas of Amit Seth
L&T FEB FUT : Buy – Rs 1946, Stop Loss – Rs 1915, Target – Rs 1980
TCS FEB FUT : Buy – Rs 3732, Stop Loss – Rs 3680, Target – Rs 3780
BAJAJ FINANCE FEB FUT : Buy – Rs 7029, Stop Loss – Rs 6880, Target – Rs 7200
Today’s cheapest option suggested by Amit Seth: KOTAK BANK
Amit bet on this stock in view of the bank’s results coming today and he believes that the results will be good and due to which the stock may see a rise. He said buy its February series 1940 strike call around Rs 65. Put a stop loss below Rs 55 in this. In this, the target of Rs 85 will be seen coming due to the expected rally in the stock.
(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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