Check out the F&O trends in select stocks such as TCS, Tata Motors, BHEL, Rel Infra and BHEL with Chandan Taparia, Derivative Analyst, Anand Rathi:
SmartInvestor:Markets have extended gains and are trading near their day's highs. Nifty options is seeing action at various strike prices from 6,500 and 7,000. What is your call on the benchmark for the expiry in the April series?
Chandan Taparia:Fresh put writing seen at 6700 strike which indicates that now 6666 is likely to act as a major support zone while on upside immediate hurdle at 6740 (VWAP Volume weight age average of the April series). If manages to hold above 6740 then short covering may take place towards 6800-6820 zone.
SmartInvestor:TCS has been one of the most active stocks in the options segment today. The stock has recorded contracts at strike prices between 2,100-2,400. What is your strategy for the IT major for April options?
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