The market is showing good growth. Nifty has reached near 18200. On the other hand, Bank Nifty has managed to stay above 38700. In such a situation, we will try to understand through the data of the option, which range the writers are looking for tomorrow’s expiry. Our Today Expert at Future Express on CNBC-Awaaz is Rajesh Palviya of Axis Securities. Rajesh also offered a cheap option with his strong calls.
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In Nifty today at 12 noon, most call writers were active at the level of 18200, 18250 and 18300.
In Nifty today at 12 noon, most put writers were active at the level of 18200, 18150 and 18100.
In Bank Nifty today at 12 noon, most call writers were active at the level of 38900, 39000 and 39100.
In Bank Nifty today at 12 noon, most put writers were active at the level of 38500, 38400 and 38300.
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Rajesh Palviya of Axis Securities on the market
Commenting on the market, Rajesh Palviya of Axis Securities said that the market has tried to reach the level of around 18200 today, due to which the set up of the market is changing. For this reason, now put writers are seen to be aggressive at the level of 18100. Rajesh said that we think that if Nifty gives closing above or near 18200 today, then looking at tomorrow’s expiry, it may see more upmove. Nifty can also show 18300 to 18400 levels. Therefore, buying should be done when it declines.
Giving a buying opinion on Nifty, Palviya said that Nifty should be bought at the level of 18140. It should put stoploss below 18090. In this, the level of 18300 can be seen.
Giving his opinion on Bank Nifty, Rajesh said that it has managed to stay above 38700, due to which buying opportunities are seen in it. Therefore, you can buy it at the level of 38724. Put stoploss at 38350 level. In this, 39000 levels can be seen.
Trading Ideas by Rajesh Palviya of Axis Securities
INFOSYS JAN FUT : Buy – Rs 1883, Stoploss – Rs 1850, Target – Rs 1930 to 1940
M&M JAN FUT : Buy – Rs 864, Stop Loss – Rs 845, Target – Rs 900
TATA CHEM JAN FUT : Buy – Rs 995, Stop Loss – Rs 980, Target – Rs 1030
Today’s Cheap Option : ASHOK LEYLAND
Describing a cheap option on this motor stock, Rajesh Palviya said that buy the call of its January series with strike of 140 around Rs 3.15. Put a stop loss below Rs 2.10 in this. A target of Rs 5.60 to 6.50 can be seen in this.