Profit-booking mood continues in the market today. Nifty 17800 and Bank Nifty have also slipped below 38 thousand. In such a situation, we will try to understand through the data of the option, which range is being seen by the writers for expiry today. Our Today Expert at CNBC-Awaaz’s Future Express is Prashant Sawant of Catalyst Wealth. Prashant also offered a cheap option with his strong calls.
FRESH LONG was seen in these stocks in the futures market today
CHOLA, APOLLO HOSPITAL, POWERGRID और SYNGNE
FRESH SHORTS seen in these stocks today in the futures market
OFS, TATA COMM, ICICI GI and PVR
LONG UNWINDING was seen in these stocks today in the futures market
BAJAJ AUTO, GODREJ CP, CONCOR और INDUS TOWER
Know investment opinion of leading brokerages on ICICI Lombard and JUST DIAL
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, most call writers were seen active at the level of 38000, 38200 and 38500.
Bank Nifty saw the most active put writers at the level of 38000, 37900 and 37500 today at 12 noon.
Catalyst Wealth’s Prashant Sawant on the market
Giving opinion on the market, Prashant Sawant of Catalyst Wealth said that our outlook in Nifty is positive and going long but keeping in view the risk reward, one should avoid making long in Nifty at this level. If Nifty goes above 18000 then it can be bought because then the risk can turn into reward favor. It should put stoploss at 17830. If Nifty starts trading above 18000, then 18500 levels can also be seen in it.
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Giving advice on Bank Nifty, Prashant said that short long positions can be made at the level of 38050 but one should not forget to put stoploss at the level of 37900. If there is a good move in Axis Bank, HDFC Bank, then Bank Nifty goes above 39000 then it can be a strong buy.
Trading ideas by Prashant Sawant of Catalyst Wealth
IOC JAN FUT : Buy – Rs 126, Stoploss – Rs 105, Target – Rs 155
ADANI PORTS 27JAN 750 CALL : Buy – Rs 17, Stop Loss – Rs 50, Target – Rs 12
JSPL JAN FUT : Buy – Rs 420, Stop Loss – Rs 390, Target – Rs 475
RELIANCE JAN FUT : Buy – Rs 2485, Stoploss – Rs 2385, Target – Rs 2650 (Disclaimer: Network 18 Media & Investment Ltd. is owned by Independent Media Trust. Its beneficiary company is Reliance Industries.)
Today’s Cheap Option: HDFC
Prashant has bet on HDFC today as a cheap option. He said that its February series call with strike of 2660 should be buy at Rs 60 level. In this, investors can get good profits because in the February series, the target of Rs 135 to Rs 150 will be seen. However, stoploss should be placed at Rs.5.
(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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