After the stormy boom, the mood of consolidation is visible in the market today. Nifty is near 17300. Although Bank Nifty is outperforming today but at this point it has come down from its upper levels. Today call writers are looking heavy. In such a situation, we will try to understand which range seems to be forming for tomorrow’s weekly expiry. Our today’s expert on CNBC-Awaaz is Rajesh Palviya of Axis Securities. Rajesh will give cheap option with great calls.
Today’s Stocks with LONG Rolls in Futures Market
Stocks with Today’s SHORTS COVERING ROLE in Futures Market
Stocks with Today’s SHORTS Roles in the Futures Market
Rajesh Palviya of Axis Securities Giving opinion on the market, he said that there is volatility in the market, so it should be bought on the downside. Today Nifty is seeing a lot of call concentration between 17400 to 17450. Call writers are active on this range while on the other hand a large number of put writers are active at the level of 17300. However, if there is a decline in Nifty, then it can be bought in the range of 17330-17300. In this, the levels of 17440-17460 can be seen.
Buy Nifty 17330-17300 SL 17280 target 17440-17460
Rajesh advised on Bank Nifty that the way Bank Nifty has shown a strong move by crossing the level of 36000 today, it can also see more bullishness. So that would be our buying opinion in it. It should be bought on the downside. In this 37000 levels can be seen coming.
Buy Banknifty 36750-36650 SL 36480 target 37000
Rajesh Palviya’s preferred stock at Axis Securities
Buy SBIN 435 SL 427 target 448-455
Buy UPL 771 SL 758 target 795-800
Buy IWCCI PRu 714 SL 703 target 735-740
Today’s Cheapest Option: REC
Rajesh Palviya advises to buy REC stock today as a cheap option. He said that the level of Rs 165 can also be seen in this. So, for options, he advised to buy its call with strike of 155 around Rs.4. He said that put a stoploss at Rs 2 in it. In this, the level of 8 to 10 rupees can be seen.
Buy REC 155 CE 4 SL 2 target 8-10
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