We have seen aggressive call writing in recent trading sessions as call writers were active in 9,600 and 9,550 strike calls indicating limited upside in the June expiry.
The highest open interest is placed at 9,700 call followed by 9,600 while we
are witnessing maximum put open interest at 9,500 strike.
As per the current data, Nifty is likely to expire in the band of 9500-9600 in current series. Till now, most of the Nifty futures has been rolled with the average of 9550 July futures, if Nifty moves above this levels short covering can trigger going forward.
In the July contracts, put writes are active at 9400 strike and call writes are active at 9800 strike indicating a band of 9400-9800.
Historically, in last ten years, 8 months closed in positive zone for July series, with average positive returns of around 2.5 percent. Looking at overall data, we advise investors to do a long rollover to July series.
ITC: BUY| Target Rs365| Stop Loss Rs295| Upside 14%
Welspun Enterprises Ltd: BUY| Target Rs119| Stop Loss Rs97| Upside 13%
Carborundum Universal Ltd: BUY| Target Rs351| Stop Loss Rs320| Upside 9%
HDFC: BUY| Target Rs1810| Stop Loss Rs1550| Upside 10%
Laurus Labs: BUY| Target Rs68| Stop Loss Rs570| Upside 12%
To Get Free Trial
Missed call @8817002233
Mail Us - starindiamarket@gmail.com
No comments:
Post a Comment