The latest analysis and commentary by stock market guru Amit Gupta, Head- Derivatives of ICICI Direct on what is moving the markets today.

He also spoke at length on Larsen & Toubro and Wipro.

Speaking about F&O strategies, Amit Gupta said, “From the heavy weights we are picking Larsen & Toubro (L&T) because if you look at the in Futures the position of the stock the open interest has reduced by almost 40 percent so the leverage is very low. I don’t see the stock now falling juts on behalf of F&O because it is at muti month low now. If you look at the delivery position which have started picking up in the stock in the last one month it is almost 30 percent higher than the last quarter. So in that case the stock is building up base now and it is possible it can move towards Rs 1,550. Over all in the current series almost 15 percent of OI has already been added so I think what was lagging was the addition in the long side in the future space which has already started now.”

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