F&O stock strategy: How to trade Titan, HDFC Life shares on Wednesday

economictimes.indiatimes.com:

Nifty was trading range-bound with a marginal positive bias on Wednesday.

Nifty faces substantial resistance in the range of 19800-19900, and a breakthrough of these levels could trigger a swift upward movement, prompting an unwinding on the call side and potentially propelling the Nifty to the 20000–20200 zone, said Ameya Ranadive of Choice Broking.

Options data reveal maximum open interest on the put side at the 19,700 strike, serving as a pivotal support for the index.
Conversely, significant call writing is observed at the 19,900 strike, with additional resistance levels at 20,300 and 20,400 strikes.

We spoke to Sudeep Shah of SBI Securities on how one should trade stocks that were in focus in the previous trading sessions based on derivative and technical data:

Long build-up in Titan
Considering the daily chart, the stock has given downward sloping trendline resistance breakout on November 16.

After registering the high of Rs 3366, the stock has witnessed minor throwback along with low volume. During the period of throwback, the stock has re-tested the breakout level and started rising higher with robust volume.

The stock is strongly outperforming frontline indices.

The Relative strength comparison with Nifty 50 has marked a fresh all-time high. Moreover, Mansfield Relative Strength is above zero line since last 170 trading sessions.

Currently the stock is trading above its short and long-term moving averages.

These averages are in a rising trajectory and they are in the desired sequence. The daily and weekly RSI is in the super bullish zone as per RSI range shift rules.