2 top stock recommendations from Sudeep Shah
«We have seen indices trading in this 250-300-point range. If we talk about Nifty and if we talk about Bank Nifty, it is about 800 to 1000 point range,» says Sudeep Shah, SBI Securities.
As we progress into the expiry, what kind of rollovers are you actually starting to see? Do you see this short covering getting more accelerated or people are still holding on to the short position being rolled on the other side?
What is clearly coming out from the rollover data is that the Nifty and Bank Nifty rolls are on expected lines when it is expiry minus two days. But there is some serious rollovers happening in the midcaps and that is where the real game is right now in the last three weeks.
We have seen indices trading in this 250-300-point range. If we talk about Nifty and if we talk about Bank Nifty, it is about 800 to 1000 point range.
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But within this, what we are seeing is stocks from the chemical space, stocks from the capital goods, metals, NBFCs, cement, select banks, autos, all these sectors we are seeing in midcap as well as even few large cap names showing good open interest built up on the long side.
So, I feel even in the coming expiry, even in the fresh series, there could be some kind of a positive sentiment getting spilled over and we may be in a process of forming a base around this 19,250, 19,400 mark and could steadily head higher up to 19,650, 19,700 by next two to three sessions.
And if we see volatility index, now if the markets are going to be weak, then VIX
