The indian stock market has opened positive note with negative side. Nifty is trading up side with low positive pts 15.20 or 0.20% to 7698.85, A lot of F&O positions are built-up at 7,600 put and 8,000 call option. If the market corrects, it can fall upto 7,400. Traders can buy 7,600 put, Nifty futures and sell 8,000 call options. If there is profit booking, hold onto to put options and exit futures.
Shares of rate-sensitive stocks realty, banks, energy, metal, auto decline ahead of RBI policy meet.
Traders can buy call option of SBI and put option of L&T.
Buy SBI call option (strike price Rs 2500) around Rs 72 and keep a stoploss of Rs 60.
Buy L&T put option (strike price Rs 1450) at Rs 35 and keep stoploss of Rs 27.
Bullish stocks- Ambuja cements, sunphrama, ONGC, Hindalco, Grassim, Baja auto, ACC ltd,
Bearish stocks – HDFC, heromotorcorp, DLF, cairn india, Bhel, HCL tech, jindal steel, sesa sterllite, power grid corp.