Check out the futures and options trends in select mid-cap shares with Chandan Taparia, Derivatives Analyst, Anand Rathi :
Smartinvestor : The Nifty has been trading way above 6,000 levels from early trades after consolidation in the past few sessions. What strategy should traders adopt for the benchmark index for Jan futures?
Chandan Taparia : Nifty future has been trading in a narrow range of 75-80 points from last 10 trading sessions. It has strong hurdle around 6060 levels.
Chandan Taparia : If it manages to move above 6060 (which is also 52 weeks high zone) then fresh rally may be seen in teh market towards 6100-6150 levels.
Smartinvestor : McDowell (United Spirits) seems to indicating weakness at current levels. Is there a build-up of short positions in the stock and what is your call on the stock for Jan futures?
Chandan Taparia : Mcdowell has been making lower highs from last three months. It is trading near to monthly low and immediate support of 1865 levels.
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