Check out the F&O trends in select stocks with Navneet Daga, Derivative Analyst at KR Choksey Securities
SmartInvestor : Markets have been trading in a narrow range with a negative bias. The Nifty is trading slightly above 6,750 levels as of now. What is the Put-Call ratio indicating and what is your call on the benchmark Nifty for May options expiry?
Navneet Daga : Well nifty is likely to be in consolidation phase till the may election verdict is out. We believe next 10 trading session is most likely to be in range of 6700-6900 on futures. While PCR is indicating lot of put protection is getting bought ahead of big election event.
SmartInvestor : IDFC has been active in the options segment today. The stock has registered contracts at strike prices of Rs 115-120 as of now. What is your strategy on the stock for May options?
Navneet Daga : IDFC its more sideways counter currently after the week set of results, stock is likely to find strong support near its long term average of 105 levels. Traders should use any countra rally to sell with stop of 122
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