Check out the F&O trends in select stocks such as BHEL, Infosys, Cipla, Kotak Bank and DLFwith Shshank Mehta, Independent Derivative Analyst:
SmartInvestor : Markets which touched record highs earlier in the day seems to retreat on profit taking. However, the Nifty seems to hold on to 7,600 levels as of now. What is your call on the Nifty for June options?
Shshank Mehta : Markets are appearing sluggish; I would advise traders with long positons to book profits as I observe creation of short positions at 7670 levels acting as key resistance for the market. Traders with a bearish view may short at current level with a stop of 7700.
SmartInvestor : BHEL has been active in the options segment today. What is your strategy for the PSU engineering major for June options expiry?
Shshank Mehta : Premium in Bhel Options are on the higher side; the counter has seen short positions entering ints Open Interest. I suggest selling Call Options at 260 strike as I see 260 as the key resistance level for this counter.
SmartInvestor : Infosys is also active in the options segment with contracts at strike prices between Rs 3,100 and Rs 3,400. What is your strategy for June options?
Shshank Mehta : That is correct! I advise traders to Buy Call Option at 3100 strike and Sell a Call Option at 3400 strike. The spread will cost about Rs80*125 (lotsize).
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