Positive momentum to continue towards 7,680-7,720: Chetan Jain

Check out the F&O trends in select stocks with Chetan Jain, Deputy Manager -Derivatives Desk, Anand Rathi

Check out the F&O trends in select stocks such as Ranbaxy, Hindalco, Godrej Ind, HDFC Bank, Sun Pharmawith Chetan Jain, Manager -Derivatives Desk, Anand Rathi :

SmartInvestor : Ranbaxy is active in the options segment. What is your strategy for June options expiry?
    
Chetan Jain : Stock after a good accumulation in last few weeks supported by volume activity is now ready for bounce back move from the current levels. Stock sustaining above 470 levels may also trigger for short covering activity. Option traders can simply go with plain vanilla call option@9-10 stop loss of 5 and target of 20 in this series.
    
SmartInvestor : Markets have firmed up after a range bound movement earlier today. The Nifty has been hovering around 7,650 as of now. What is your take for Nifty options for June expiry?
    
Chetan Jain : Nifty future is holding the immediate crucial support area of 7580 levels and till the time it is sustaining above this area positive momentum is likely to continue towards 7680-7720 levels on higher side. however breaking down below 7580 levels may give some profit booking dip towards 7500-7470 levels. Option traders can go with Ratio Bull Spread strategy: Action buy 1 lot 7650 call@87; sell 2 lots 7800 call@31; Costing 25; LBEP: 7675; UBEP: 7925; MAX REWARD: 125
    
SmartInvestor : Hindalco is also seeing action in the options segment. What is your strategy for June options expiry?
    
Chetan Jain : HINDALCO is sustaining at higher levels with buying seen on every decline suggesting strength in it. One can go with Bull Call Spread Strategy by buying 170 call@6.25; Sell 180 Call@3.5; Max Risk: 2.75; max reward: 7.25; BEP: 172.25
    
SmartInvestor : Godrej Ind is active in the futures segment. Is there a build-up of fresh longs. What is your call for June futures?