The most active Call was that of 39,000 CE with OI of 73,703 and Put was of NIFTY 18,000 PE with an OI of 1,04,796. The closing of the market for the week is above 18,100 which seems positive for the upcoming week. The stocks that have seen the most active call options were Tata Steel Ltd (NS:) 1300 CE and the put option was Tata Motors Ltd (NS:) 350 PE.
Here are a few top picks for the week:
1. BUY: Bajaj Finance Ltd (NS:) 7600 CE (183-185)
STOP LOSS: 139
This stock is taking support of 50 DEMA on its daily charts and on its intraday charts the stock has been consolidating and taking support of 200 DEMA, we can also see moving average cross over (8 DEMA over 50 DEMA) the PCR of the stock is 0.5 which seems favorable. Therefore, we advise taking a position above 183 with a Target of 232 and a Stop Loss of 139.
2. BUY: Info Edge India Ltd (NS:) 6500 CE (190-192)
STOP LOSS: 149
The stock has given a resistance breakout above 6325 on its daily charts. The stock can also be seen having a crossover of 8 DEMA over 50 DEMA on its daily charts. The PCR of the option is 0.5 which seems favorable and the max pain is at 6200. Therefore, we advise taking a position above 192 with a target of 235 and a Stoploss of 149.
Disclaimer – Neither CapitalVia nor its analysts hold a position in any of the stocks mentioned above.