Heavy call writing seen at 7,500-7,600 Nifty strike: Navneet Daga

Check out the F&O trends in select stocks with Navneet Daga, Derivative Analyst at KR Choksey Securities

SmartInvestor : Markets continue to trade weak in noon trades on MOnday with the Nifty hovering around 7,450 levels as of now. What is your strategy for Nifty July options?
    
Navneet Daga : Nifty continue to grind downwards with upside looking capped in near term, strategy should be selling any rise, big call writing is visible on nifty strikes of 7600-7500 zone suggesting upside limited to 7600 levels. Traders should sell nifty short strangle for current month of strikes 7200-7700 levels. Markets likely to trade in range bound manner from here on, with mildly negative bias.
    

SmartInvestor : Infosys is active in the options segment today. The stock is witnessing contracts at strikes between 3,000-3,500 as of now. What is your strategy for the IT major for July options?
    

Navneet Daga : Infy had been volatile off-late with upside capped near 3400 zone and downside support near 3200 levels. Any break would invite major trading action. Until that looking sideways in this range.
    
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