|Wipro Option Data as of 14-Oct-13|
Wipro seem to be getting ready to correct from its current levels of 500-510 upto 470. As Option writers are seen writting deep-in-the-money calls of 470 with highest open interest addition today while the stock has made a new 52 week intraday high of 508. Delivery qty of the stock too was on the higher side indicating that the retailers have happily bought into the stock and the sellers have offloaded Wipro to them. Let us watch and see what happens to this stock in the coming sessions!!!
I would be looking at opportunity to short the stock as n when it reaches intraday high.
|FII Data Analysis|
FII seem to be bullish on index as per their trading data shown above, we may see Nifty going higher. It may even cross 6200+ levels in the coming sessions. The recent high of Nifty was at 6229, are the FII's targeting that ? Let us see what happens in the coming sessions. For the moment 6300 CE looks like a good option to buy above 50 for target 75 & 90. keeping stop loss at 37.