The market has made a great comeback after yesterday’s sharp fall. Nifty has managed to stay above 16700. Whereas Bank Nifty is doing OUT PERFORM today. So, we will try to understand through the data of the options which range the writers are seeing for the next week’s monthly expiry. Our Today Expert at CNBC-Awaaz’s Future Express is Prashant Sawant of Catalyst Wealth. Prashant also offered cheap option with his strong trades.
Shares holding today’s FRESH LONG Rolls in Futures Market
NBCC, PNB, RAIN and BHEL
Shares with Today’s SHORT COVERNING ROLE in Futures Market
RBL BANK, IDFC FIRST, TATA MOTORS AND SAIL
At which levels are the writers active in Nifty and Bank Nifty?
In Nifty today at 12 noon, most call writers were seen active at the level of 18200, 18300 and 18500.
In Nifty today at 12 noon, the most active put writers were seen at the level of 18200, 18100 and 18000.
In Bank Nifty today at 12 noon, the most active call writers were seen at the level of 38200, 38200 and 38500.
Bank Nifty saw the most active put writers at the level of 38000, 37800 and 37500 today at 12 noon.
Due to the Russia-Ukraine crisis, 2 players had negative returns yesterday in the earning game of the stock market, which stocks were bet on today for earnings
Catalyst Wealth’s Prashant Sawant on the market
Giving opinion on the market, Prashant Sawant of Catalyst Wealth said that there was a strong decline in the market yesterday, although today it is also seeing a good recovery. But due to the weekend, today there would be an opinion to avoid taking trades on both the indices. At present, it is difficult to predict which way the market will sit in the crisis-ridden global environment of Russia and Ukraine. So, despite a good start to the March series, we will not take trades on both the indices today.
Prashant further said that the recovery or bounce in the market can also be seen as a strategy of sell on rise. At present we are not bullish on both Nifty and Bank Nifty at this level. However, if Nifty is seen to be trading above 16800 then we can take long calls on it. Similarly, one should not go long in Bank Nifty as well. If Bank Nifty stays above 37200, then we can take a long call by adopting a bullish approach.
Today’s Trading Ideas by Prashant Sawant of Catalyst Wealth
Tata Motors Mar Fut : Buy
Apollo Hospitals Mar Fut : Buy – Rs 4710, Stoploss – Rs 4600, Target – Rs 5000
Asian Paints Mar Fut : Sell – Rs 3121, Stop Loss – Rs 3165, Target – Rs 3000
Today’s Cheapest Option : Nifty Put
Considering the market environment, Prashant considered it appropriate to bet on Nifty instead of betting on any stock as a cheap option today. He said buy put of Nifty with expiry of March 3, 16600 with strike around 220. A target of 450 will be seen in this, although he also advised to put stoploss at 115 in it.
(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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