Web exclusive: Nifty range between 5,950-6,200 with upward bias

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 L&T, LIC Housing, PNB and Canara Bank with Navneet Daga, Derivative Analyst at KR Choksey Securities:


SmartInvestor : Markets have been trading in a very narrow range in noon trades today. The Nifty has been hovering between 6,050-6,070. What is your take on the Nifty Feb futures?
    
Navneet Daga : Well markets are likely to consolidate after the big swings of last week. We believe markets had formed the base near 5950-6000 zone, which is supported by huge put OI buildup on 6000 levels. Now it should be in trading band of 5950 to 6200 levels currently. With bias towards upside

    

SmartInvestor : L&T has been active today in options segment today. What is your strategy on the stock for Feb options expiry?
    
Navneet Daga : LT had been stuck in tight range, its giving sings of breakout above 1000 levels, strategy should be using covered call, with buy LT and sell upper strike calls of 1020. keeping downside SL at 960 levels
    
SmartInvestor : LIC Housing is also seeing some action in the options segment today. What is your strategy for the stock for Feb options?


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