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Check out the F&O trends for select stocks such as BHEL, Tata Steel, Canara Bank, HPCL and Reliance Infrastructure with Chandan Taparia, Derivative Analyst at Anand Rathi Financial Services:
SmartInvestor : Markets have surged today after exit polls showed that the BJP may emerge victorious in most of the state elections. What is your take on the Nifty futures for the near term?
Chandan Taparia : Nifty future taking the cues in positive manner and opened positive but witesssing profit booking at higher levels. Nifty is near to life time high zone and any dip would be a buying opportunity till Nifty future holds above 6240 levels.
SmartInvestor : BHEL has been in an uptrend from Rs 140 levels. Is the stock likely to witness profit taking. What is your take on the engineering major for Dec options?
Chandan Taparia : BHEL has been moving upwards from last 4 weeks and rallied from 130 to 168 levels. Overall trend is positive and any dip can be utilised to buy the stock till it holds above 160 levels. Upside If sustains then may go towards 172-175 levels.
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