Check out the F&O trends and strategies for stocks such as Maruti Suzuki, TCS, Ranbaxy Labs, HCL Tech and ZEEL with Chandan Taparia, Derivative Analyst at Anand Rathi:
Smartinvestor : Markets have remained weak since early trades today weighed down by index heavyweights. However, the Nifty has been trading near its support level of 5,600 so far. What strategy should traders adopt for June options expiry this week?
Chandan Taparia : Nifty future has been making lower top - lower bottom from last five trading sessions with weak global cuew and falling Rupee value.
Chandan Taparia : Market has corrected sharply in last five weeks from 6239 to 5600 levels, overall trend is week but if it sustains above 5650 then a bounce back move may be seen towards 5730-5750 levels.
Chandan Taparia : Nifty has immediate support around 5580 levels, below that it may further decline towards 5550-5520 levels.
Chandan Taparia : Put Call Ratio is falling down with fall in volatility which also indicate negative bias of the market.
Chandan Taparia : India VIX is at one year high levels at 20.80.. rising volatility indicates rising risk in the market.
Chandan Taparia : Those holding long hedge the position by 5600 or 5500 strike put..
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