After yesterday’s strong rally, the market is showing pressure today. Nifty is trading near 15800. In such a situation, the question is, what is the position in the market a day before the weekly expiry. By going through the options data, we will understand which range the writers are watching for tomorrow. Our today’s expert on CNBC-Awaaz’s Future Express is Rajesh Palviya of Axis Securities. Rajesh Palviya will also give strong calls on stocks with INDEX.
Stocks that are bearish in the futures market today
Stocks showing gains in futures market today
Rajesh Palviya of AXIS SECURITIES Said that the market was moving upwards but a lot of call writing has been seen at 15800 and 15900. If the market closes above 15800 in the second half only then it will take a big move in short covering. Like yesterday, there will be volatility today but strong base remains at 15700 and 15650. But considering tomorrow’s expiry, the market will wait. Like today, the market is likely to remain under pressure tomorrow.
by Palviya Further said that after the expiry of tomorrow, the market can be seen trending upwards. If we look at the market keeping yesterday’s expiry in mind, a range bound is seen forming here as already we are seeing a decline of around 74 points. But overall trend remains positive so buy on dips will be the strategy.
Buy Nifty in dips 15780-15750 SL 15680 target 15900-15950
Buy Banknifty in dips 35070-34970 SL 34750 target 35400-35500
Rajesh Palviya of AXIS SECURITIES Futures Market Top Calls
Buy SBILIFE Future 1002 SL 980 target 1040-1050
Buy LTI future 4215 SL 4165 target 4300-4320
Buy Dabur Future 580 SL 572 target 600-610
Buy Dr. Lalapath lab fut 3210 SL 3165 target 3290-3310
(Disclaimer: The views and investment advice given on moneycontrol.com are the personal views and opinions of investment experts. Moneycontrol advises users to consult a certified expert before making any investment decision.)
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