Check out the trends and strategies for select stocks with Navneet Daga, Derivative Analyst at KR Choksey Securities
SmartInvestor : Markets have remained weak since early trades today. The benchmark Nifty seems to be consolidating around 6,200 levels so far. What is your take on the index for Jan futures expiry?
Navneet Daga : Nifty to consolidate in range bound mode for Jan series with upside strong resistance 6400 where major call buildup is seen at 6500 levels. Any trades with below 6200 on nifty fut. would initiate unwinding and would take nifty futures towards 6130/6000 levels.
SmartInvestor : Larsen & Toubro as been witnessing activity in the options segment today. The stock has remained in an downtrend for the past few sessions. What is your strategy for Jan options expiry?
Navneet Daga : Larsen should remain under pressure, with very strong support emerging near 980 levels. Buying the dips towards 980 zone is making sense in Larsen.
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