Check out the trading strategies for frontline and mid-cap stocks in the F&O segment with Shshank Mehta, derivatives strategist, Shah Investor's Home
Smartinvestor : The markets have started the day on a positive note. Do you expect the momentum to sustain? What trends are you picking up from the F&O segment ahead of the Union Budget and F&O expiry next week?
Shshank Mehta : Yes! we believe the markets will sustatin at current levels and inch up higher in the coming trading sessions; we observe strong support at 5885-5895 levels on the downside; traders with a bearish view should create short positions only below our suggested level. Our view emerges from the concentration of Open Interest in Calls that is seen at 6100 strike which has crossed 85.84 lakh units. On the upside, 6035-6040 will be a key resistance to watch out for. A decisive close above this will shoot Nifty towards the 6100 mark.
Shshank Mehta : Ahead of the budget, we are observing reduction in the Open Interest in a few front-line counters hinting at the indecisiveness with respect to budget event.
Smartinvestor : RIL, Jet Airways and Bhel are in the news today. What does the options data indicate regarding these counters?
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