NDTV Profit reported on Oct. 22 that Jay Thakkar, vice president and head of derivatives and quant research at ICICI Securities, outlined three Indian stock-futures positions for the session: two long positions and one short. The calls included entry, target and stop levels, while his reported view also put the Nifty 50’s near-term range lower.
The outlet gave LTM Limited an entry range of ₹4,280 to ₹4,310, targets from ₹4,450 to ₹4,550 and a stop below ₹4,230. For Dr. Reddy’s Laboratories Limited, it listed an entry range of ₹1,230 to ₹1,250, targets at ₹1,300 and ₹1,350, and a stop below ₹1,180. The short position in Oberoi Realty Limited had an entry range of ₹1,640 to ₹1,660, targets at ₹1,580 and ₹1,550, and a stop above ₹1,720.
NDTV Profit said Thakkar linked the LTM position to a short-term base and options activity around ₹4,200 to ₹4,300, with possible short covering. For Dr. Reddy’s, the outlet cited reported outperformance against the Nifty Pharma Index, additions to long futures positions and put activity around ₹1,100 to ₹1,200. Its account linked the Oberoi Realty position to lower highs and lows, rising short positions and call activity between ₹1,680 and ₹1,720.
The report put Thakkar’s Nifty 50 range at 22,500 to 23,000 points, down from 23,000 to 23,500, and listed support levels at 22,000 and 21,700. It said he saw a close above 23,000 as a possible trigger for short covering and viewed a break below 22,500 as likely if crude prices stayed high. NDTV Profit quoted Thakkar as saying that “call writers remain aggressive.”
The calls concern a market segment where losses have been common among individual traders. The Securities and Exchange Board of India (SEBI) found in its August 2026 study that 66.0% of individual equity futures traders lost money in FY26; the loss rate for individual options traders was 87.7%. The study also reported about ₹44,000 crore in gross trading profits for proprietary traders and about ₹72,000 crore in gross losses for individuals, measured on squared-off trades before transaction costs and excluding positions still open at fiscal year-end. Those figures cover broad derivatives activity, not these three positions.
LTM lists an interim dividend of ₹25 per share with an Oct. 23 record date. An Oct. 16 exchange filing by Oberoi Realty set the same record date for its ₹2 interim dividend. NDTV Profit did not say whether the dividends were reflected in the futures levels.
