Check out the F&O trends in select stocks such as TCS, SBI, Bata India, Biocon and Hindustan Unilever with Chetan Jain, Deputy Manager -Derivatives Desk, Anand Rathi:
SmartInvestor:Markets have retreated today on account of profit taking after recent gains. However, the Nifty continues to trade above 6,500 as of now. What is your call on the Nifty for March options?
Chetan Jain:Nifty future continued to maintain its northward journey for the fifth consecutive trading sessions with trading into life time high territory. Nifty future after a strong run up may now see some range bound move with immediate hurdle is placed at 6600 psychological zone. Looking at the option series data for the March series maximum call OI is at 6600 followed by 6500 strike prices whereas maximum put OI is placed at 6200 followed by 6300/6400 strike prices. Overall bias is positive and we recommend to buy on decline with positional stop loss of 6450 levels. Option players can trade in 6600 or 6700 call option with limited risk.
SmartInvestor:TCS is seeing some action in the options segment at strike prices of Rs 2,200. What is your strategy for the IT major for March options?
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