Check out the F&O trends and strategies for select stocks such as TCS, United Spirits, Divis Labs, Zee and Hexaware Tech with Chetan Jain, Dy Manager Derivatives Desk at Anand Rathi:
SmartInvestor:Markets have remained weak since early trades today. The benchmark Nifty has remained below 6,200 levels so far. What is your take on the index for Jan futures expiry?
Chetan Jain:After a long consolidation phase markets witnessed a huge volatility yesterday with breaching all technical levels on both side. Now for the next few trading session 6180 may become the immediate support area as maximum put OI is seen at 6200 strike price. Traders can simply buy 6300 call@70 Stop Loss 50 Target 110-130 levels in next few trading session, as taking directional future call will be riskier in the absence of any directional trend.
SmartInvestor:TCS has been witnessing activity in the options segment today. The stock has remained in an uptrend with minor corrections. What is your strategy for Jan options expiry?
Chetan Jain:TCs is clearly trading into Bull run with buying emerged on every decline in it. However taking a fresh long positions for trading is not favorable due to improper risk reward ratio hence one can simply can buy plain vanilla 2250 call option @55 Stop Loss 35 target of 100 levels on premium.
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