Observing that the 4,770-4,800 levels are be the most crucial levels being watched by the put writers, Hemant Thukral, head of derivatives research at SBI Capital Securities says if those levels break, there is 'big trouble' in the waiting.
In an interview with CNBC-TV18's Udayan Mukherjee and Mitali Mukherjee, Thukral says the next put option after 4,800 is active only at 4,600. "Hence, the next fall can be from 4,800 to 4,600," he says. He says rollover cost has dipped in the high beta sectors of banking, metals and IT. "All the three sectors still suggest that all the rollover happening are on the short side. Hence, the scene does not seem to be too good for September series," he believes. Below is an edited transcript of Hemant Thukral's interview to CNBC-TV18. Also watch the accompanying video. Q: Yesterday wasnDiscover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
