Check out the trading strategy with Chandan Taparia, Derivative Analyst, Anand Rathi Financial Services.
Smartinvestor : Markets have been on a downtrend since Friday's sharp fall. How do you see the trend panning out in the remaining part of the week?
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Chandan Taparia : Good Afternoon Aastha
Chandan Taparia : Nifty future has been making lower tops and lower bottoms from last five consecutive weeks and it fell down sharply in last three sessions from 5759 to today's panic low of 5200 levels
Chandan Taparia : Maximum Put OI is at 5300 strike but fresh call writing seen at 5400 and 5500 strike.
Chandan Taparia : Overall market trend is negative but the way it has recovered from lower levels, may see a small short covering bounce back move.
Chandan Taparia : If Nifty future sustains above 5430 then only immediate weak trend may change and it may bounce towards 5500-5555 levels.
Smartinvestor : Is there any opportunity to BUY in this market or is it safe to hold onto capital for now?
Chandan Taparia : Yes, stock specific buying opportunity can be seen from current levels as risk reward ratio is better for a medium term oerspective.
Smartinvestor : How do you read the recent spike in the India VIX and how much more of a surge could it have?
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