F&O Strategy: Indus Towers to CDSL— Rupak De suggests buy or sell strategy for THESE stocks
As of 9:15 IST, the Nifty 50 had decreased by 0.69% to 24,939.75, while the Sensex dropped by 0.85% to 81,704.07.
According to Rupak De of LKP Securities, as long as the index stays above 24,850, it remains a 'buy on dips' market. On the upside, Nifty 50 could head towards 25,350. De recommends buying Indus Towers, Nava, and Central Depository Services (India) amidst Israel-Iran War.
After three days of consolidation, Nifty 50 saw a sharp bounce, signaling a resumption of its short-term uptrend. It has also reclaimed the 21-day EMA, which adds strength to the current momentum. As long as the index stays above 24,850, it remains a 'buy on dips' market. On the upside, Nifty 50 could head towards 25,350 and possibly even higher.
Open Interest Analysis: Significant open interest additions were observed in 25,000 and 25,100 Puts and while some OI addition seen at 25,400 Calls; however, Call writings were relatively muted on Friday. Maximum OI buildup was seen at 25,500 CE. Meanwhile, substantial put writing at the 25,000 strike.
Strategy: Strength might increase if Nifty 50 sustains above 25,100.
Trade: Buy Nifty June 25,200CE Above 110 TGT 180 SL 69.
Indus Towers share price has moved up sharply following a period of sideways consolidation on the daily chart, indicating rising optimism. Moreover, the 21EMA and 50EMA have given a bullish crossover, supporting the positive view. The RSI is in a bullish crossover and rising. The current setup aligns well with a bullish outlook, with the price likely to rise towards ₹ 430. On the lower end, support is placed at ₹ 389.
Nava share price has given a rounding bottom breakout on the daily chart, suggesting bullishness. In addition, the 21EMA and 50EMA have given a bullish crossover, reinforcing the positive view. The RSI is in a bullish crossover and rising on the hourly chart. The current setup supports a bullish outlook, with the price expected to move towards ₹ 600. On the lower end, support is placed at ₹ 539.
After a brief correction, the stock looks poised to rise again. The price found support at the 21EMA before moving higher, signalling positive sentiment. The RSI is in a bullish crossover and rising on the hourly chart, indicating early signs of strengthening momentum. The current setup supports a bullish view, with the price likely to move towards ₹ 1,900. On the lower end, support is placed at ₹ 1,629.
Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.
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