Check out the F&O trends in select stocks suchs as ONGC, HUL, DLF, Lupin, PNB with Nitin Murarka, Head-Derivatives, SMC Global:
SmartInvestor : Markets seem to be consolidating on the first day of the June F&O series. What are the roll-over trends to the June series indicating? What is your call on the Nifty for June options expiry?
Nitin Murarka : Nifty rollover is around 60 which are lower than last three month average however market wide rollover is in line with three month average. This time stocks have better rollover than Nifty. This data indicates than June series will be sideways with stock specific movement. In the option segment we are seeing maximum open interest concentration at 7000 put strike; hence this level should act as strong support. Immediate support is placed around 7190 levels spot level. We are call seeing writing at 7400 strike hence 7400 level will act as resistance in the current expiry. Overall trend is positive and buy on dip strategy should be followed for the current expiry. Nifty is expected to remain in the range of 7150-7350 levels this week with positive bias.
SmartInvestor : ONGC is active in the options segment today. What strategy can one adopt for June options expiry?
Nitin Murarka : ONGC has witnessed long rollover of 73% which is better than average of last two months. Technically stock has support around 360 levels. Today stock is up by more than 2% with 9% addition in open interest. This indicates fresh long buildup. From here stock can move up towards 420 levels
SmartInvestor : DLF is also witnessing activity in the options segment post its fourth quarter earnings late Thursday. The realty major is witnessing contracts at strike prices between Rs 200-220. What is your strategy for June options?
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