Slight recovery from lower levels in Nifty, know market outlook from Alpesh Furia

The week has started with weakness. However, there is a slight recovery from the lower levels. So, by going through the options data, we will understand which range the writers are watching for this week. Our Today Expert at CNBC-Awaaz is Alpesh Furia of Panorama technicals. Alpesh will also give strong calls on stocks with INDEX. Also, there will be a cheap earning option as well.

Stocks showing gains in futures market today

Torrent Pharma
Godrej consumer
Navin fluorine
ONGC

Stocks showing bearishness in the futures market today

Adani ports
DLF
Coal India
JSPL

Alpesh Furia of Panorama Technicals Giving opinion on the market, said that I had said only last week that till the Nifty does not close above 15800, then there is a possibility of correction in it, so till the Nifty does not close above 15850, then you will get every bounce here. Must sell. Nifty should sell at the level of 15700 to 15725, it can see the level of 15500, along with it should maintain stoploss at 15840.

Alpesh further said that a hurdle of 35000 has been made in Bank Nifty, it is trying hard to go above it. So if Bank Nifty sees a jump up to 34725 or 34800 then sell it with a stop loss of 35000. In this, the level of 34100 to 34000 can be seen on the lower side.

Calls from Alpesh Furia of Panorama Technicals

BUY LTTS 2870 CSL BELOW 2790 TGT 3030

BUY APLL 1000 SL BELOW 950 TGT 1095

SELL ICICI BANK SL 640 TGT 616 & 608

BUY SAIL SL BELOW 132 TGT 144 & 149

Today’s Cheap Option

Also today Pradeep Pandya of CNBC-Awaaz He also mentioned a cheap option earning profit on which he said that one should buy a put option with a strike price of 700 in the stock of Bharat Forge. Buy a Put at Rs.11 level with a stoploss of Rs.6. Levels ranging from 18 to 22 can be seen in this.

Buy BHARAT FORGE 700 pe 11 sl below 6 Tgt 18 & 22

(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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