Check out the trading strategies for key frontline and mid-cap stocks with Navneet Daga, derivative analyst, KR Choksey Securities
Smartinvestor : The Nifty is threatening to break 5,600 on the downside. How do you see the markets panning out over the next few sessions?
Navneet Daga : On downside, 5600 put is holding maximum OI for the current months, we believe markets to take support near 5580-5600 zone for the current series.
Navneet Daga : We are looking expiry for the june series near 5700 zone. So some short covering bounce is visible in next few sessions.
Smartinvestor : Stocks from the oil & gas space - Gail, RIL and ONGC have lost considerable ground today. What does the options data suggest regarding these counters?
Navneet Daga : Well ONGC had broken key levels of 310 support zone, shorting pressure in terms of OI buildup on short side is visible on it, while RIL looks fairly in tight range with supports near 780 zone.
Smartinvestor : What about GAIL?
Click here for the full transcript
