Derivative market strategies: RIL, UltraTech Cement, BHEL

Check out the trading strategies for buzzing stocks of the day with Navneet Daga, derivative analyst, KR Choksey Securities.


Smartinvestor : It has been a quiet start to the week today with the benchmark indices inching up 0.3%. Where do you see the Nifty at expiry? What are the key levels that you are keeping a tab on?

Navneet Daga : Well on index levels we expect range trade to continue with 6000 to 6150 will be the band. Huge buildup in narrow bands also the vols trading near its historical lows suggesting sideways move with positive bias on markets. Till expry nifty might try to move towards 6150 levels.

Smartinvestor : Cement stocks have cracked badly in today's session. What does the F&O data suggest regarding UltraTech Cement, ACC and Ambuja Cements?

Navneet Daga : Well lots of distribution is visible on cement counters from last few trading session, valuation concerns and sector rotation is visible on cements counter. We recommend to sell the rise on cements with ACC and Ambuja among the top shorting candidates. ACC is looking around for 1280 levels and Ambuja around 188 levels likely.

Smartinvestor : Do you expect RIL, BPCL and Cairn India to trend higher over the next few sessions?




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