Check out the trends and strategies for select stocks such as Reliance Ind, Reliance Comm, Tech Mahindra, Tata Motors and JSW Steel with Nandish Patel, Derivative Analyst at Sharekhan:
Smartinvestor : Market are trading flat after a weakness in opening trades. The Nifty has been hovering around 6,040 as of now. What is your advice on the Nifty for July options expiry on Thursday?
Navneet Daga : Well july series expiry is looking very much near to 6000 levels. So writing straddle of 6000 is making sense to us.
Navneet Daga : July series from here on looking more of consolidation of gains.
Smartinvestor : Reliance Industries which has been gradually rising from Rs 870 levels seems to have finally corrected post its first quarter earnings. What is your take on the index heavyweight for July options expiry?
Navneet Daga : Well profit booking is seen on reliance counter after the pre results run up. From here on reliance for july series is looking major support near 880 levels one should be looking for buying near to that levels. Huge activity is visible on 900 strike price Call and Put both.
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