In today’s market, the trajectory of shares on the index witnessed a mix of gains and losses. Notable stocks such as BPCL, Cipla, and Power Grid showcased positive movement in Nifty. Conversely, Maruti Suzuki, HDFC, M&M, Power Grid, L&T, and Hindalco’s shares marked a decline in the Sensex. On a contrasting note, Bharti Airtel, Wipro, and HCL Tech exhibited robust performance in the Sensex.
Insights on Call and Put Writers in Nifty and Bank Nifty
Noteworthy dynamics were observed among call and put writers in both Nifty and Bank Nifty. On the Nifty front, significant call writer activity was evident near levels of 19300, 19400, and 19500. Simultaneously, put writers showcased their presence at 19300, 19200, and 19100 levels. In the realm of Bank Nifty, maximum call writer participation was noticed at 44400, 44500, and 45600 levels. Correspondingly, Bank Nifty put writers were active at 44300, 44200, and 44000 levels.
Expert F&O Calls and Insights by Jatin Gediya
Jatin Gediya of Sharekhan shared his expert insights on the market. He advised investors with long positions in Nifty to hold, projecting a target of 19450, while recommending a stoploss at the 19400 level.
Gediya also provided strategic F&O calls:
- BPCL Future: Buy at Rs 356, Target – Rs 376, Stoploss – Rs 348
- ICICI Pru Future: Buy at Rs 551, Target – Rs 580, Stoploss – Rs 540
- Godrej Consumer Future: Sell at Rs 1020, Target – Rs 980, Stoploss – Rs 1035
Furthermore, Gediya presented an intriguing opportunity for investors. He suggested considering Sun Pharma’s 1120 strike call, expiring in September, available at Rs 29.50. He anticipated a target range of Rs 42 to 48, advising a stoploss at Rs 23.