Web special: Nifty futures may re-test 7,600

Check out the F&O trends in select stocks with Shshank Mehta, Independent Derivative Analyst

Check out the F&O trends in select stocks such as Bank of Baroda, BHEL, Bajaj Auto, UltraTech Cement, NTPC with Shshank Mehta, Independent Derivative Analyst:

SmartInvestor:Markets seem to be consolidating after sharp gains recently. The Nifty is slipped below 7,250 levels as of now. What is your call on the benchmark index for May options?

Shshank Mehta:I see follow-on buying coming any time in the next few trading sessions before settlement of the current Series. I believe traders with a bullish view should continue to hold their long positions and should even add to their long positions as Nifty futures may re-test 7600.

SmartInvestor:Bank of Baroda is active in the options segment today. The stock seems to be pausing after sharp gains recently. What is your strategy for May options?

Shshank Mehta:That is correct! But the counter is poised to move higher and traders should not close their long positions at current levels. Instead they can lock their profits by buying ATM (at-the-money) Put Option to lock profits.

SmartInvestor:BHEL is among the index stocks which has witnessed sharp gains recently. The stock is witnessing action in the options segment. What strategy can one deploy for May options?


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