Nifty Feb series seeing maximum build up near 6,000 Puts: KR Choksey Securities

Check out the F&O trends in select stocks with Navneet Daga, Derivative Analyst at KR Choksey Securities

Check out the F&O trends in select stocks such as Apollo Tyres, Idea, Titan, Crompton Greaves and Sun TV with Navneet Daga, Derivative Analyst at KR Choksey Securities:


SmartInvestor : Markets have been trading weak in the past few sessions. The Nifty is holding on to 6,050 levels as of now. What is your take on Nifty for Feb futures?
    
Navneet Daga : Nifty from the current zone is looking oversold and Feb series we have got maximum buildup near 6000 Puts suggesting strong support zone for index. Currently risk reward is not favorable to short need to wait for bounce towards 6150-6180 zone in nifty Feb fut.

    

SmartInvestor : Apollo Tyres has been active in the options segment today. The stock has remained range bound after recent gains. What is your call on the stock for FEB options?
    
Navneet Daga : This is strong counter in mid-cap basket, we believe it would make sense to initiate bull call spread on apollotyre feb series with strike of buying 110 call and selling 120 Call. Stock is likely to make a comeback.
    
SmartInvestor : IDEA Cellular is also witnessing action in the options segment today. What strategy can one adopt for FEB options expiry?

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