The Nifty50 reclaimed its crucial resistance level of 9,133 and closed above its crucial 10-days exponential moving average (DEMA) placed at 9,104. The index formed a small bullish candle which resembles spinning top kind of pattern on daily charts.
In an interview to CNBC-TV18, Manoj Murlidharan of Religare Securities shared his readings and outlook on Futures and Options (F&O) side of the market, specific stocks and sectors.
Amit Gupta of ICICI Direct says in this series whenever Nifty sees any intermediate profit booking for one or two sessions, one should ride the Put options rather than panicking and looking for an upward target.
Amit Gupta of ICICI Direct feels that 6,200 Call option will remain a critical resistance for Nifty. One should wait for some profit bookings to reenter from lower levels.
In an interview to CNBC-TV18, Hemant Thukral, National Head-Derivative Desk at Aditya Birla Money shared outlook on the market.
Manoj Murlidharan Vayalar of IIFL Premia is of the view that, one can expect another 2% rally in National Mineral Development Corporation (NMDC).
Amit Gupta of ICICI Direct, in an interview with CNBC-TV18, gave his market outlook. He further adds, "If Nifty is moving up, 5,980-6,040 is going to be a very stiff range. On the higher side, I will remain short in the market and I will look for a target of around 5,820-5,840 on the lower side".
Manoj Murlidharan Vayalar of IIFL is of the view that ITC is expected to rally towards Rs 297.
Last one hour of the March series has been riding high on volatility. The market was grinding at 5140-5150 in the morning but pulled up to 5170, well off the lows of the day, says Udayan Mukherjee, managing editor, CNBC-TV18.
Talking about his outlook for the Nifty for December on the F&O side, Manoj Murlidhar, Head of Derivatives at IIFL PReMIA says he is looking at a couple of thing - first would be the rollover percentage.