There’s still some time to go before people can buy puts to take advantage of a forthcoming fall in the markets, according to JM Financial’s Rahul Sharma.
While the Relative Strength Index and Nifty Put-Call Ratio levels have risen to points indicating the markets being in the upper end of the range, there was no indication that market participants need to take corrective action or initiate shorts, the head of derivatives strategy at the company told BloombergQuint’s Niraj Shah during a BQ Edge event.
RSI above 75 indicates an opportunity for buying puts as the markets may head lower sometime after this event.
Sharma is positive on select commodities, but said some of the stocks needed to be carefully monitored before a large bet is placed.
Watch the full interview here:
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