The market is showing pressure for the fourth consecutive day. However, Nifty has tried to recover from lower levels. Nifty 9 is moving around the key level of EMA i.e. 17650. Bank Nifty is underperforming today. So, we will try to understand through the options data which range the writers are looking for tomorrow’s monthly expiry. Our expert today at the Future Express show of cnbc-awaaz is Rajesh Palviya of Axis Securities. Rajesh will give cheap option with great calls today.
Stocks holding today’s FRESH LONGS Rolls in Futures Market
COAL INDIA
TATA POWER
NTPC
IEX
Stocks with Today’s SHORTS COVERING ROLE in Futures Market
SAIL
VODAFONE IDEA
ZEEL
SUN TV
Stocks with Today’s SHORTS Roles in the Futures Market
HDFC AMC
NAUKRI
TECH MAHINDRA
NICE
Rajesh Palviya of Axis Securities Giving his opinion on the market, said that the market has seen a good trend this month. There is a slight slowdown at this point of time, but despite this, the market remains in a positive trajectory. Therefore, looking at the way the pattern is being formed on the chart, it seems that a recovery will be seen in Nifty in the second half. Anyway, buying is being seen on every fall in the market, so we also have a buying outlook on Nifty.
Buy Nifty 17600 SL 17500 target 17750
Commenting on Bank Nifty, Rajesh said that the set up of this index also looks positive. It is seen trading above 37500, if it keeps trading above this level, then it can also see the level of 38000 thousand in one to 2 days. In this the level of 37350 is very important and if it does not break this level then it is very likely that Bank Nifty will be seen again touching the level of 38000.
Buy Banknifty 37550-37450 SL 37350 target 37950-38000
Today’s Favorite Trades by Rajesh Palviya of Axis Securities
Buy Power Grid 191 SL 186 target 205
Buy PVR 1640 SL 1615 target 1690-1700
Buy CIPLA 982 SL 968 target 1020
Today’s Cheap Option: CANARA BANK
Describing the cheapest option calls for today, Rajesh said that you should now focus on the October series calls. That’s why I have bet on the PSU sector. Buy important PSU sector bank Canara Bank’s October Series 170 strike call near Rs 13.40. In this, the target of Rs 20-22 will be seen. Along with this, one should not forget to put stoploss below 9 rupees.
Buy CANBANK OCT 170 CE 13.40 SL 9 target 20-22
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