Check out the F&O trends in select stocks such as Maruti Suzuki, Rel Infra, Zee, Titan and Tata Globalwith Nitin Murarka, Head-Derivatives, SMC Global:
SmartInvestor:Markets have rebounded today tracking global cues. The Nifty has been hovering around 6,050 levels as of now. What is your call on the Nifty for Feb futures expiry?
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Nitin Murarka:Nifty is trading above 6000 level which is major support as we are seeing maximum put open interest concentration at 6000 strike. This indicates that put writers are active at 6000 level. Put call ratio for 6000 strike is also above 2.5 which also indicate importance of this level. My sense is Nifty should touch 6120-6150 levels next week. However 6130-6150 level will remain crucial resistance for bulls and only close above 6200 will change the trend. The options open interest concentration on call side is maximum at 6200 strike. Stop loss for all buy position should be placed around 6000 Nifty spot level.
SmartInvestor:Maruti is witnessing action in the options segment today. What is your strategy for the auto major for Feb options expiry?
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