Web special: Nifty seen between 6,600 and 6,900 for April series

Check out the F&O trends in select stocks with Navneet Daga, Derivative Analyst at KR Choksey Securities

SmartInvestor : Markets continue to remain weak and are trading near their day's lows. The Nifty is trading around 6,660 levels as of now. What is your strategy for the benchmark index for April options expiry?
    
Navneet Daga : Nifty for April series now will become more volatile within the boundaries of 6600-6900 where the maximum put and calls buildup is visible. Profit taking is advisable with fresh new longs to be buildup only on closing above 6770 zone on nifty futures. Short strangle should be initiated with strikes of 6600 put and 6900 call. Markets are likely to be in this range for April series.

    
SmartInvestor : DLF is among the active stocks in the options segment today. The stock has remained range bound between Rs 170-180 for the past few weeks. What is your stragtegy for the realty major for April options expiry?
    

Navneet Daga : DLF and entire real estate pack had seen very volatile movements off late, with DLF had seen an stiff resistance near 180 zone, strategy should be buy above only 180 zone for big breakout. On downside it have strong support zone near 166 levels. So covered call is advisable with buying in future and selling 180 call makes sense.

    
SmartInvestor : SBI is also witnessing some action in the options segment at strike prices around Rs 2,000 levels. What is your advice to investors for the banking major for April options expiry?

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