Check out the F&O trends in select stocks such as Axis Bank, BHEL, Lupin, Sesa Sterlite and REC with Chetan Jain, Deputy Manager -Derivatives Desk, Anand Rathi
SmartInvestor : Markets have remained range bound so far with the Nifty holding to 6,300 levels so far. What is your call on the benchmark index for Jan futures expiry next week?
Chetan Jain : Markets are trading into consolidation phase with no major directional move was seen in last few trading sessions. Nifty future is facing strong hurdle near 6350-6400 zone whereas strong support area is at 6200 levels. Till the time Nifty is moving this tight range no major move is expected however breaching the territory on either side on sustainable basis may give directional move of 150-200 points. Traders can go for 6400 call option buy if nifty future holds above 6370 levels.
SmartInvestor : BHEL is also active in the options segment today. The stock has been in an uptrend from Rs 160 levels. What is your strategy on the stock for Jan options expiry?
Chetan Jain : BHEL after a good recovery from lower levels supported by volume activity is now likely to give fresh weekly breakouts above 170 levels. Traders can buy plain vanilla call option of 175 strike price@1.5 with max risk of 3000/- per lot.
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