Web special: Nifty range between 6,150-6,363 for next few sessions
Check out the F&O trends in select stocks such as Idea Cellular, Cipla, Jindal Steel and CESC with Chandan Taparia, Derivative Analyst, Anand Rathi:
SmartInvestor:Markets are marginally down in late noon trades amid profit taking at higher levels after sharp gains on Monday. The Nifty is still trading above 6,200 levels as of now. What is your call on the benchmark index for Jan futures?
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Chandan Taparia:CNX Nifty has been trading in a range of 6130 to 6362 for last 23 trading sessions and now hovering near to its monthly VWAP of 6255 levels. Maximum Put OI is at 6200 strike while maximum Call OI at 6300 strike. OI concentration suggests that it would be in the range of 6150 to 6363 levels for next coming sessions.
SmartInvestor:Idea Cellular which has remained range bound between Rs 16-170 levels is witnessing activity in the options segment today. What is your strategy for the stock for Jan options expiry?