The market is looking good today. The market is trading in a range after a good gap-up. Nifty is close to 16900. Bank Nifty is still outperforming against Nifty today. In such a situation, we will understand through the data of the option which range the writers are looking for for tomorrow’s expiry. Our Today Expert at CNBC-Awaaz’s Future Express is Prashant Sawant, Founder, Catalyst Wealth. Prashant also offered a cheap option with his strong calls.
In the futures market today these stocks were seen forming LONGS
JK CEMENT, VOLTAS, NAM-INDIA AND VEDL
SHORT COVERING was seen happening in these stocks today in the futures market
LIC HF, COFORGE, GODREJ PROP AND METROPOLIS
In the future market today, shorts were seen in these stocks.
HONEYWELL, GUJGAS, PFIZER and CIPLA
Today at 12 noon, Nifty saw the most active call writers at the levels of 16700, 16800 and 16900.
Today at 12 noon, the most active put writers were seen in Nifty at the level of 16500, 16400 and 16300.
Today at 12 noon, most call writers were seen active in Bank Nifty at the level of 34800, 34900 and 35000.
Today at 12 noon, most put writers were seen active in Bank Nifty at the level of 34500, 34400 and 34300.
In just 2 days, 1 player earned 11% return, where did other players bet in the stock market game
Catalyst Wealth’s Prashant Sawant on the market
Prashant Sawant while giving his opinion on the market said that when we see trade in Nifty below the budget day then that year is bearish for our markets. This year the budget day’s low was 17200 below which we are currently trading. I look at any uptrend in Nifty with suspicion, so at the moment I am not giving a new buy opinion in it. But those who have taken the position should stay in it with a stoploss of 16800.
While giving opinion on Bank Nifty, Prashant said that it is outperforming than Nifty, yet the decision on Fed policy is likely to come by this evening, due to which overnight trade will not be advised in it.
Trading ideas by Prashant Sawant of Catalyst Wealth
Havells Mar Fut : Sell – Rs 1130, Stop Loss – Rs 1190, Target – Rs 1050
Axis Bank Mar Fut : Buy – Rs.722, Stoploss – Rs.710, Target – Rs.750
Tata Consumer Products Mar Fut : Buy – Rs 751, Stoploss – Rs 730, Target – Rs 780
Today’s Cheap Option : ASIAN PAINT
Prashant today chose a giant stock of the paint sector as a cheap option. He advised to bet on Asian Paint. Buy Asian Paint March Series 3000 strike call near Rs 66, he said. Put a stop loss below Rs 25 in this. Targets up to Rs 150 can be seen in this.
,