Stock Market Strategy for June 16: Buy or Sell Calls on Manappuram Finance, Biocon & More by Rupak De
Discover expert F&O strategies for June 16 by Rupak De, including buy and sell recommendations on stocks like Manappuram Finance and Biocon. Get insights for smart trading moves
F&O Strategy for June 16: Rupak De’s Buy & Sell Recommendations on Manappuram Finance, Biocon & More
As the Indian stock market continues to navigate through volatile conditions, traders are turning to expert guidance for actionable strategies. Rupak De, Senior Technical Analyst at LKP Securities, has outlined his top Futures & Options (F&O) picks for June 16, offering buy and sell calls based on technical indicators and price action.
One of his bullish recommendations is Manappuram Finance, which is currently trading around ₹170.35. The stock has recently broken out of a consolidation phase, indicating renewed upward momentum. Rupak suggests a buy strategy with a target price of ₹178, while placing a stop loss at ₹166 to manage risk effectively.
Another positive recommendation comes in the form of Biocon, trading near ₹292.80. The pharma giant has been forming a consistent pattern of higher highs and higher lows—a classic sign of an uptrend. Based on this technical setup, Rupak advises a buy with a target of ₹305 and a stop loss at ₹286.
On the bearish side, Delta Corp has been facing significant resistance at higher levels and is showing signs of weakness on the charts. The stock is currently priced at ₹125.50, and Rupak recommends a sell strategy here, targeting ₹120, with a stop loss at ₹129 to protect the downside.
Similarly, Bata India appears to be under pressure, trading well below its key moving averages. The stock, which is currently around ₹1,386, is showing declining momentum. A sell recommendation has been issued with a target price of ₹1,350 and a stop loss at ₹1,410.
With the market’s direction still uncertain, Rupak emphasizes the importance of stock-specific strategies and disciplined risk management. Traders are encouraged to stick to strict stop-loss levels and to trail profits to lock in gains wherever possible.
Disclaimer:This content is for informational purposes only. Always consult a certified financial advisor before making investment decisions.F&O Strategy: Technical views on F&O market by Rupak De, Senior Technical Analyst, LKP Securities. De suggests Manappuram Finance Ltd, Biocon Ltd, and Karur Vysya Bank Ltd.
