Market Outlook
Nifty future witnessed sustained selling pressure across the board throughout the day and moved down towards 4700 levels. On option front, maximum Put OI is at 4800 strike and Nifty is below 4800 levels. If Nifty remains below 4800 levels, then fresh selling may get intensified in the market towards 4600 levels. Maximum Call OI is intact at 5000 strike, which would be the major hurdle for the market. If Nifty future sustains above 4800 levels then it may go up to 4850-4900 levels. On downside if it fails to hold 4700 levels, then selling pressure may get intensified in the market towards 4600 levels. If Nifty future fails to cross 4700 levels then hedge the position by buying 4600 strike put.
Derivatives Calls : Buy Dabur and M&M
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