Following Friday’s sharp rally amid FTSE rebalancing, traders must brace for large moves in both Nifty and Nifty Bank in the monthly expiry week, says Anand James, Chief Market Strategist, Geojit Financial Services. RVNL and Mahindra Logistics are his two stock ideas for the week. Edited excerpts from a chat: Friday’s session changed the trajectory … Read more
The pre-Budget rally that has seen Sensex and Nifty touch unclaimed peaks this week may not sustain in the run-up to the D-Day, according to historical market trends ahead of the Budget. “If history were to repeat, we should see a dip prior to the Budget announcement. So history advises traders not to chase prices … Read more
Shares of PSU defence company Mazagon Dock, which ended last week 33% higher, can rally up to Rs 6,700 level before moving into a consolidation phase, says Anand James, Chief Market Strategist, Geojit Financial Services. Edited excerpts from a chat in which the analyst also reads the charts for Nifty and Nifty Bank traders. Unlock … Read more
With a surge in Nifty option premium for 6th June contract, a directional bet is fraught with high risk and therefore traders can deploy Iron Butterfly strategy, says Anand James, Chief Market Strategist, Geojit Financial Services. “At the centre of the Iron Butterfly is a short straddle with a short PE and short CE as … Read more
PSU bank stocks were the worst performers this week led by selling seen in PNB, IOB, Union Bank, Canara Bank and Bank of India. “As 83% of PSU Bank index stocks are nearing the oversold region, SBI is witnessing strong pullback and Nifty PSU Bank Index bouncing off the rising trendline support of 7003, we … Read more
Private largecap bank stocks like HDFC Bank, ICICI Bank, Axis Bank, and IndusInd Bank, which together form around 60% of Bank Nifty, saw Long buildup or shorts being covered on a week-on-week basis, says Anand James, Chief Market Strategist, Geojit Financial Services. “Delivery buying has started to pick up this week in the case of … Read more
