Web exclusive: F&O trends and strategies for select stocks

Check out the trends and strategies for select stocks with Nandish Patel, Derivative Analyst at Sharekhan

Check out the trends and strategies for select stocks such as JP Associates, Idea Cellular, Yes Bank, India Bulls Real Estate and Biocon with Nandish Patel, Derivative Analyst at Sharekhan:

Smartinvestor : Markets have been trading lower weighed down by Infosys. The Nifty has been trading way below 5,600 so far. What is your call on the market and your advice to traders during the week for July options expiry?

Nandish Patel : We had seen a good breakout after a long consolidation with PCR zooming above 1.30 in Friday’s trade clearly indicating that majority of out of the money put strike has seen writing. Straddle breakeven point of 5914 has finally been surpassed with VWAP levels inching higher clearly indicating that any sell in the market will be abrupt & 5900 on closing basis would act as a good support. For Intraday & for expiry we think one can buy Nifty CE 6000 strike call around 60-65 with a stop loss of 40 on closing basis.

Smartinvestor : JPAssociates is among the most active stocks in the options segment today. What is your call on the stock at current levels and what strategy can one adopt for July options expiry?

Nandish Patel : This counter is been trading in the range from couple of days. 50 on lower side is acting as a good support & 53-54 acting as a hurdle. But overall setup is extremely positive from the OI & options data. We feel that this can be a stock for July expiry. One can buy on dips with a Sl of 50 & Targets of 57.50 to 60 for this series.

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