TGT Stock – Option Picks For the Week
has seen a good recovery with a gain of nearly 498 points from the previous week. Nifty PCR is 1.24 for 27th May 2021 expiry, the maximum call OI is seen at 15200 and put OI is seen at 15000.
The most active put was that of NIFTY 14800 PE with the OI of 2151075 OI and Call was of NIFTY 15000 CE with OI of 2466825. The stocks that have seen the most active call options was Tata Steel Ltd (NS:) 1200 CE and put option was RELIANCE 2000 PE.
Here are few top picks for the week:
1. BUY: Reliance (NS:) 2020 CE (18-20)
STOP LOSS: 7
This stock has been making insider bar pattern on its daily charts and the stock looks ripe for a breakout above the level of 2017. The stock has been taking support of important moving averages and therefore we recommend buying above the level of 18 with SL of 7 and TGT of 38.
This stock has given a trendline breakout on its daily charts, and with the volume of 0.92 times this seems to be a good opportunity, therefore we recommend initiating a position above 22 with an SL of 3 and TGT of 52.
Disclaimer: The analyst does not hold a position in any of the stocks mentioned above.