There is pressure in the market on the day of monthly expiry of January futures series. Nifty remains below 17000. Although the decline in Bank Nifty is a little less, but it is also trading below 37300. In such a situation, we will try to understand through the data of the option that which range the writers are seeing for the monthly expiry to be held today. Our Today Expert at CNBC-Awaaz’s Future Express is Rajesh Palviya of Axis Securities. Rajesh also offered cheap option with his strong calls.
FRESH SHORTS seen in these stocks today in the futures market
TORRENT PHARMA, INDIA MART, JUBILANT FOOD AND APOLLO HOSPITAL
FRESH LONG was seen in these stocks in the futures market today
BHEL, SRT FIN, RBL Bank and CAN Bank
LONG UNWINDING was seen in these stocks today in the futures market
NAM INDIA, METROPOLIS AND BOSCH
In Nifty today at 12 noon, most call writers were seen active at the level of 18200, 18300 and 18500.
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In Nifty today at 12 noon, the most active put writers were seen at the level of 18200, 183100 and 18000.
Bank Nifty saw the most active call writers at the level of 38000, 38200 and 38500 today at 12 noon.
Bank Nifty saw the most active put writers at the level of 38000, 37900 and 37500 today at 12 noon.
Market opinion of Rajesh Palviya of Axis Securities
Commenting on the market, Rajesh Palviya of Axis Securities said that there is weakness in the market. Along with this, Sentiment Week is also seen. Sector-wise, PSUs are showing sell-off in all sectors except the banking sector and are showing weakness. The kind of pressure there is in Nifty, once the level of 16900 can be seen breaking even. But there is also strong support at 16850. Sell on rise strategy should be adopted in Nifty. Sell Nifty at 16910 level. A target of 16850 can be seen in this, although stoploss should also be placed at Rs 17050. Today’s expiry can be seen around 17000.
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Giving his opinion on Bank Nifty, Rajesh Palviya said that Bank Nifty has also seen strength in comparison to Nifty. It is holding the level of 37000 and can see an upward trend from here. If action comes in this, it can also contribute in taking Nifty to the level of 17000. It is very important to hold the level of 37000 in Bank Nifty, after which recovery can be seen from here. Buy it at 37071 level. A target of 37350 can be seen in this, although stoploss should also be placed at the level of 36850.
Today’s Earnings Stocks by Rajesh Palviya of Axis Securities
Coforege Feb Fut : Sell – Rs 4481, Stop Loss – Rs 4600, Target – Rs 4250
Apollo Hospital Feb Fut : Sell – Rs 4180, Stoploss – Rs 4260, Target – Rs 4080
Canara Bank Feb Fut : Buy – Rs. 223, Stop Loss – Rs. 218, Target – Rs. 232-235
Today’s Cheap Option: SBIN
Rajesh Palviya said that today the shares of PSU Bank are able to handle themselves a little. There may be further momentum in this, so today it is advisable to take the call option of the country’s leading public sector bank as a cheaper option. Its February series call with 520 strike should be bought around Rs 20. Put a stop loss below Rs 17 in this. In this, a target of Rs 30 to 32 can be seen in a few days.
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