Check out the F&O trends in select stocks such as Yes Bank, Tata Steel, United Phosphorous, Godrej Industries with Chetan Jain, Deputy Manager -Derivatives Desk, Anand Rathi:
SmartInvestor:Markets have surged in today's trade on the back of narrowing current account deficit. The Nifty has topped its all-time closing high in the cash segment. What is your call on the benchmark for March options?
Chetan Jain:Nifty future after a gap up opening it is continuing its northward journey for the third consecutiv e trading session supported by strong buying seen especially in Banking, CG and Realty sector stocks. Nifty future after crossing 6280 hurdle zone had seen upside move towards 6360-6380 levels which is next resistance area for the index, now sustaining above or below the current levels will decide further direction of the markets in coming days. Option traders can go for Long straddle strategy as volatility is also at two year low levels and markets from current zone can either give either side move of at least 150-200 points in coming time. One can buy 6350 call & put at cost 160 with trading stop loss of 110 and upside target of 230-250 levels.
SmartInvestor:Yes Bank is active in the options segment today at strike prices of Rs 340 as of now. What is your strategy for the private bank for March options?
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