Put Writers

Trapped Option Writers may extrapolate weakness if any in the coming days. Hence, an index hedge is advised with bear Put spread on Nifty profiting from the extension of the ongoing meltdown.

Dealers eye July series expiry between 5970-6030 range

The two most important strikes would be 6,000 Put and 6,000 Call. These will be the instruments that will be traded the most as we head into the expiry. The kind of expiry we could have would be at around 5,970 or 6,030, give or take 20 points here or there.

Short-term trend weak; Parliament session crucial: Udayan

Udayan Mukherjee, managing editor, CNBC-TV18 says the Parliament session flags off. “The market might just be focused on some of the local cues. Global cues are flattish,” he adds.

No meaningful downside to banks until March earnings: Angel

We saw a good amount of short in banks, but we are not expecting meaningful downside, not upto the March results, Siddharth Bhamre of Angel broking tells CNBC-TV18.