Check out the F&O trends in select stocks such Infosys, SBI, JP Associates, Ambuja Cements, Tata Steel as with Navneet Daga, Derivative Analyst at KR Choksey Securities:
SmartInvestor : Markets are trading lower ahead of the May F&O expiry. However, the Nifty has slipped below 7,300 levels as of now. How are the roll-overs to the June series so far? What is your call on Nifty for June options?
Navneet Daga : Nifty our call is Nifty to expire very much near 7300 zone for may series, currently rollovers are in line with previous expire, but the base is higher for rolls. Nifty remains buy on dips till 7250 holds on. Nifty 7500 Call hold the maximum OI for June series suggesting resistance point.
SmartInvestor : Infosys is among the active stocks in the options segment with contracts at strike prices between 2,850 and 3,100. What is your strategy for the IT major for June options?
Navneet Daga : Infy had broken its major support zone, after the negative news flow the company. Now below 3000 infy might surprise on downside for another 10%, bear spread can be created with strike of 3000 and 2700 with current spread of 75 points.
SmartInvestor : SBI is also active in the options segment today with contracts at strike prices between 2,600 and 2,700. What is your strategy for the PSU banking major for June options?
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