Buy Bharat Forge Rs 800 Call option and simultaneously Sell Rs 820 Call of the June series, suggests Nandish Shah, Sr. derivatives & technical research analyst of HDFC Securities.
Meanwhile, the Bank Nifty may face resistance around 44,300 - 44,350 zone today.
Nandish Shah, Sr. derivatives & technical research analyst of HDFC Securities, recommends to buy 170 call option of PFC & simultaneously sell 180 call option of June series
Meanwhile, the Bank Nifty may witness a sharp fall if the index fails to sustain above 43,500 level.
Nandish Shah, Sr. derivatives & technical research analyst of HDFC Securities, recommends to Buy Bank Nifty 43,800 Call option and simultaneously Sell 44,300 Call of the May series.
The weekly options data suggests that the Nifty may see limited upside on Thursday with resistance likely around 18,250 - 18,275 range.
Nandish Shah of HDFC Securities recommends to buy L&T Finance 96 call option and simultaneously sell 100 call of the May series
Nandish Shah, Sr. derivatives & technical research analyst, recommends to Buy LARSEN 2300 Call option and simultaneously Sell 2400 Call of the May series.
The PCR for Nifty and Bank Nifty for the April series is above 1, suggesting presence of strong Put writes for both derivatives.
In case, the MCX Natural Gas futures manages to conquer the Rs 195 hurdle, a sharp rally towards Rs 260 - 300 seems likely.
The MCX Gold June futures could dip to Rs 58,300 or lower, in case the support at Rs 59,750 gets violated; Pivot point for Silver is Rs 74,850.
Nandish Shah recommends to Buy Canara Bank 290 Call option and simultaneously Sell 300 Call of the April series.
The MCX Crude Oil futures seem on course to test the 200-WMA placed at Rs 5,000. However, given the indications from momentum oscillators, the commodity may break the support level.
The near term bias for MCX Gold April futures is likely to remain bullish as long as the commodity sustains above Rs 57,100.
Build-up of long OI in general indicates that traders are expecting the price of the underlying stock or index to gain in the near-term.
The derivative analyst from HDFC Securities recommends to Buy Dabur 530 Put option and simultaneously Sell 525 Put of the March series.
The anticipated trading band for the MCX Crude Oil futures has got narrower to Rs 6,180 - Rs 6,660. Broader trend for Natural Gas remains weak as the commodity trades below 200-WMA.
The technical analyst expects an upside target of 17,800 - 17,900 on the Nifty, with stop loss of 17,400.
The derivative analyst from HDFC Securities recommends to Buy PowerGrid 222.50 Call and simultaneously Sell 230 Call for the March expiry.
In case of a pullback, the immediate resistances for Gold and Silver futures are placed at Rs 56,050 and Rs 64,580, respectively.