Derivative Strategy pick by Devarsh Vakil & Nandish Shah of PCG Desk, HDFC securities:
Stock price has made a double bottom around 800 levels and now is rising with good volumes
In the option segment, 27.5, 30 and 32.5 call added 2.65, 9.3 and 4 lakh shares in open interest
Call unwinding in 24500 and shift in maximum OI congestion suggests further up move
Buying interest in most of the heavyweight and built up of long position
Call writing at 24,500 could restrict its upside towards 24,500-24,600
Call writing at 24500 could restrict its upside towards 24500-24600
Momentum Indicators and oscillators are suggesting strength in the stock
A hold above 630 could take the stock towards 640-645 zones
Momentum Indicators and oscillators Indicate strength in the stock
Derivative Strategy on Torrent Power by Devarsh Vakil & Nandish Shah - PCG Desk, HDFC Securities
Major trend is intact to positive but a hedged strategy can be taken for protection
Higher rollover seen by the stock to the August series with the positive cost of carry
Option Strategy on Bank of Baroda by Chandan Taparia of Motilal Oswal Securities
Long Build up is seen in the Engineers India today where OI Rose by 11% with 4.5% price rise
Put writing at 205 and 210 strike could provide the support
Fresh Put writing at 160 strike could provide the support
Fresh writing at 9600 & 9700 CE could drag the index to lower levels
Nifty failed to cross 9700 and broken immediate support of 9580 zone
Derivative strategy on Reliance Industries by Chandan Taparia of Motilal Oswal Securities