Web special: Major support for Nifty seen near 6080-6060 zone

Check out the F&O trends in select stocks with Chandan Taparia, Derivative Analyst, Anand Rathi

Check out the F&O trends in select stocks such as BHEL, Reliance Ind, Reliance Cap, Sun TV and Ambuja Cements with Chandan Taparia, Derivative Analyst, Anand Rathi


SmartInvestor : Markets continue to remain weak since early trades. However, the Nifty seems to hold on to 6,100 levels so far. What is your call on the Nifty for Feb options?
    
Chandan Taparia : Nifty future fell down due to weakness in Global indices but taking support at around 6100 levels as we are observing support base buying interest and Put writing activities. On downside 6080-6060 zone is likely to act as a major support zone while on upside till it doesn’t cross above 6150-6161 zone, lackluster move may continue for next coming sessions.

    

SmartInvestor : BHEL is active in the options segment today. The stock has remained weak in the past few sessions. What is your strategy for Feb options?
    
Chandan Taparia : BHEL has taken support at around 145 levels and some short covering may be seen as many capital goods are showing strength. Traders can go for 150-160 bull call spread to play the bounce back move with limited risk.
    
SmartInvestor : Reliance Ind is also seeing activity in the options segment. The stock is trading just above Rs 800 levels as of now. What is your strategy for Feb options?

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