The market is still witnessing a fall due to weak global cues. Nifty is trading below 15800. However, the Nifty is witnessing the maximum fall of 500 points. In such a situation, we will understand through the data of options which range the writers are seeing for the next week. Our expert market expert today is Shivangi Sarda. Shivangi also offered cheaper option with its strong trades.
Today at 12 noon, most call writers on Nifty were active at the level of 16000, 15900 and 15800.
Today at 12 noon, most put writers on Nifty were active at the level of 15800, 15700 and 15600.
Today at 12 noon, most call writers on Bank Nifty were active at the level of 33000, 32900 and 32800.
Today at 12 noon, most put writers on Bank Nifty were active at the level of 32000, 32200 and 32500.
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Shivangi Sarda’s opinion on the market
Shivangi Sarda while giving opinion on the market said that there is weakness in Nifty. It is currently trading in the bearish trajectory. Overall, the market itself is showing weakness. Selling is being seen on the rise on Nifty. The next important support in Nifty is now seen forming at the level of 15500.
Giving opinion on Bank Nifty, Shivangi said that today banking stocks and financial stocks are looking weak. There has been a decline in this. On the other hand, there was weakness in Bank Nifty as well. Therefore, we believe that till the time Bank Nifty does not overtake 32500, it will remain under pressure. If there is a bounce in this, 32300 and 32500 levels can be seen.
Profitable trades of Shivangi Sarda today
Bajaj Finance Mar Fut : Sell – Rs 5973, Stoploss – Rs 6100, Target – Rs 5700
Infosys Mar Fut : Buy – Rs 1776, Stop Loss – Rs 1740, Target – Rs 1850
Shivangi Sarda Recommended Today’s Cheap Option : Mindtree
Shivangi Sarda while recommending today’s cheap option advised to trade very carefully in the first option. He said that there is a lot of volatility in the market, due to which one must also apply strict stoploss while taking trade in options.
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He recommends betting on Mindtree as a cheap option today. He said buy its March series 4200 strike call around Rs 95. Put a stop loss at Rs 70 in this. In this, targets of 130-140 can be seen in the coming few days.
(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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