The market is showing weakness on the first day of the October series. At this time Nifty has fallen to near 17400. Sensex is also seeing a fall of more than 500 points, as well as Bank Nifty is trading with a weakness of more than 300 points. In such a situation, through the options data for the October series, we will try to understand which range the writers are looking for this October series. Our today’s expert on CNBC-Awaaz’s Future Express show is Vinay Rajani, HDFC Securities. Vinay will give cheap option with great calls.
Shares holding today’s FRESH LONGS Rolls in Futures Market
TRENT
DIXON
INDIA Brick
PAGE IND
Shares holding today’s FRESH SHORTS Rolls in Futures Market
CUMMINS INDIA
SRF
CANFIN HOME
BAJAJ FINSERV
Shares with LONG UNWINDING Roles in the Futures Market today
M&M FINANCIAL
HINDALCO
TURNS
BOSCH
Shares with today’s SHORT COVERING ROLE in Futures Market
INDUS TOWER
COFORGE
RAMCO CEM
IN THE BANK
Vinay Rajani of HDFC Securities on the market
Even in the fall, in the game of Share Market in just 4 days, 1 player gave 12% and the other 25% returns, where is the bet today
Vinay Rajani of HDFC Securities Giving his opinion on the market, he said that there was weakness in the global market for the last whole week but the Indian markets were outperforming. But after yesterday’s expiry, there has been a correction in the market even today. If Nifty breaks its support level, then selling can be seen in it. But still I believe that next week the Indian market and Asian market may be seen outperforming again.
Rajani further said that apart from the move of the dollar, the weakness in the market has been seen due to the Fed’s news in the US. At the same time, there was a decline in copper in the commodity. All these things seem to be putting pressure on Nifty.
Talking about the trade on Nifty, the level of 17600 in Nifty was broken and closed below it after breaking yesterday’s session. Even today a gap down opening has appeared, so now an important resistance level of 17600 has become on Nifty. So today we will have a sell opinion on Nifty. It may also see a low of 17400.
NIFTY: SELL NIFTY AT 17550, SL 17650, TGT 17400
Giving his opinion on Bank Nifty, Vinay said that until the level of 38000 is not visible in it, there will be uncertainty in it. It can sometimes show negative move. Therefore, whenever there is a bounce in it, it would be advisable to sell it in intraday. Lower levels of 36900 can also be seen in this.
BANKNIFTY: SELL BANKNIFTY AT 37350, SL 37650, TGT 36900
Powerful stocks that give profit in 2-3 sessions of Vinay Rajani
BUY SUN PHARMA OCT FUT AT 815, SL 800, TGT 835
BUY TECH MAHINDRA OCT FUT 1375, SL 1350, TGT 142
Today’s Cheapest Option: BANK OF BARODA
Vinay said that he likes Bank of Baroda stock for the October series. This government sector bank will further see a move like Canara Bank. Buy BANK OF BARODA October Series 85 Strike Call near Rs 4.5 as a cheap option today. There will be a target of Rs 7.20 and put a stop loss below Rs 3.
1) BUY BANK OF BARODA OCT 85 CALL AT 4.5, SL 3, TGT 7.20
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