Option Picks for the Week

  • Stock Market Analysis
  • Editors Pick

Nifty closed higher than the previous close nearly 268.05 points higher. The support of Nifty seems to be around 17,700 and resistance at 18,050. The PCR is around 1.11 for the 30th September expiry.

The most active Call was that of NIFTY 18000 CE with OI of 1,06,820 and Put was of NIFTY 17700 PE with an OI of 74,113. The market is at higher levels and a healthy correction is possible in the present circumstances. The stocks that have seen the most active call options was Indus Towers Ltd (NS: INUS ) 320 CE and the put option was GMR Infrastructure Ltd (NS: GMRI ) 36 PE.

Here are few top picks for the week:

1. BUY: Apollo Hospitals Enterprises Ltd. (NS: APLH ) PE (310-312)

TARGET: 370
STOP LOSS: 259

This stock has been rallying for quite some time now and in the past week, we could see rejection at higher levels and a hammer candle forming on its weekly charts. The hospitals have accumulated considerable stocks of COVID vaccines but are finding few takers due to the free vaccination drive of the government, this situation is expected to burn holes in their pockets and therefore we believe the stock price to drop reasonably. The PCR here is 0.4 which seems favourable. Therefore, we advise taking a position above 310 with a Target of 370 and a Stop Loss of 259.
 
2. BUY:  UltraTech Cement Ltd (NS: ULTC ) 7600 PE (171-172)

TARGET: 210
STOP LOSS: 134

This is signalling a reversal from higher levels(evening star) on weekly charts and a breakout below the level of 7500 is expected to lead to further correction. The PCR here is 0.4 and which seems favourable, therefore, we advise taking position above 171 with a target of 210  and Stop loss of 134.

Disclaimer - Neither CapitalVia nor its analysts hold a position in any of the stocks mentioned above.

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  • Balbir Singh @Balbir Singh
    what level markit will open on monday
    Like 0
  • Vishnu VV @Vishnu VV
    Apollo Hosp Strike price is 4900? (30-SEP-2021-4900-PE )
    Like 1
  • Richa Pandey @Richa Pandey
    Waht about tata motets
    Like 0
    • frankly m games @frankly m games
      Target 340
      Like 0
    • Avdesh Kumar @Avdesh Kumar
      have an idea Wipro ?
      Like 0
    • Manoj Makani @Manoj Makani
      Investment purpose 500++
      Like 0
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  • Shariq Tungekar @Shariq Tungekar
    sir u have not mentioned Apollo Hospitals contract . only PE is shown, but which PE.
    Like 2
    • Anandharasan Mani @Anandharasan Mani
      sep series
      Like 0
    • Khangura Singh @Khangura Singh
      he is asking for strike price
      Like 1
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