TGT Stock – Option Picks For the Week
has been in a consolidating phase from the previous week and closed nearly 116 points lower than the previous close. Nifty PCR is 1.02 for the 24th June 2021 expiry, the maximum call OI is seen at 16000 and put OI is seen at 15500.
The most active CALL was that of NIFTY 15700 CE with the OI of 3801825 and PUT was of NIFTY 15500 PE with OI of 3804450. Stocks that have seen the most active call options was RELIANCE 2300 CE and the put option was RELIANCE 2200 PE.
Here are few top picks for the week:
1. BUY: Reliance Industries Ltd (NS:) 2260 CE (32-33)
STOP LOSS: 21
This stock is making a reversal pattern on its daily charts reducing selling pressure and with PCR of 0.4 and volume of 1.16 times it seems a good opportunity and there is also good Call OI at 2260. Therefore, we advise taking a position above 32 with an SL of 21 and a target of 51.
2. BUY: Info Edge India Ltd (NS:) 5100 CE (95-96)
STOP LOSS: 63
This stock is taking support of moving averages and consolidating on its daily chart, with a PCR of 0.5 and volume of 1.46 times this seems to be a good opportunity. Therefore, we advise taking a position above 95 with SL of 63 and TGT of 155.
Disclaimer: The analyst does not hold a position in any of the stocks mentioned above.