Check out the trends and strategies in the F&O segment with Chandan Taparia, Derivatives Analyst at Anand Rathi
Smartinvestor : Markets have firmed up today after the recent correction. Is the benchmark Nifty likely to consolidate and what is your take on Nifty March futures?
Chandan Taparia : Nifty future has fallen down by more than 5% in Feb series. Put Call Ratio was not able to move above 0.99 levels as sustained call writing was seen at higher strike. Now after the sharp fall, market is trading at oversold territory with the support of Put writing at 5700 strike.
Chandan Taparia : Maximum Put OI is at 5700 strike suggest that 5650-5700 zone would act as a strong support, if it sustains above 5720-5740 zone then a pull back move may head towards 5850-5880 levels.
Smartinvestor : Reliance Ind is active in the options segment and has registered contracts at strike prices of Rs 820 and Rs 840. What strategy should traders adopt for the stock for March options?
Chandan Taparia : In line with the market, Reliance has fallen from 950 to 805 levels. It is finding support at around 810-815 zone and fresh Put wiritng started to seen at 800 strike which also support our view that 800 is likley to hold for next coming sessions.
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