Tata Steel
In my previous take I had suggested a Call short position given the set up at that time being bearish. That strategy played out well...
Now the stock is at same level, however, In the current set up,
- the stock is trading above 21 day EMA and 63 day EMA
- the stock has tested the time and so far is managing to stay above the May 2022 low
The...
Nifty is currently having support at 18400 odd levels
Nifty all time high is at 18604
Given the set up one may consider to a Short strangle strategy in weekly options
Dec 01 Expiry
Sell 18300 Put optoin
Sell 18650 Call option
Net receivables 68-70 points
Loss in trade if closing on Dec 01 is below 18232 or above 18718
Review points 18350 on the lower side...
Nifty
Yesterday I had given important levels for Nifty
18228 - It respected the level for the whole day and gave a breakout in last 1/2 hour of trade
Above 18228 the next level given was 18304-18323 zone
Today Nifty opened at 18325 and immediately retraced and traded the whole day in the yellow zone ( again the yellow zone has been marked in yesterday's...
DLF
Multiple Line of resistance around 376 - 385
- 21 day EMA around 370
- 63 day EMA around 369
- 252 day EMA around 354
Given the set up one may consider a Short strangle strategy in DLF
Sell DLF 400 Call option
Sell DLF 340 Put option for October series
Net receivable Rs 9.6 per strategy lot.
Max profit potential Rs 15840 per strategy and gives a yield...
Powergrid
The stock seems to have sustained above its crucial resistance level at 218
Now it has a clear path towards 231 / 238
Take care & safe trading...!!!
Disclaimer
- The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- Use this for educational purpose
- Any decision you take, you need to take...
IOC
The stock is in strong territory and has support at 73.5 / 68
Target for the current set up 79 / 84 / 90
Take care & safe trading...!!!
Disclaimer
- The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- I have been wrong in the past and can be wrong again in future too
- Use this for educational...
TRADING SUGGESTION:
Now we looking to the gold market coming into reversal area,so wait for market get perfect SELL trade.
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TAKE A TRADE,SIT BACK AND RELAX
Nifty
The level of 18350-18400 has acted as crucial resistance in the past
Immediate Support at 18258 odd levels
High risk traders may consider buying Nifty 17 Nov expiry 18300 Put option between 58-66 (CMP 62.50)
Target 84 / 96 / 102
SL 51.50
Disclaimer
- The view expressed here is my personal view
- Past performance is not a guarantee for future...
Laurus Lab
we are looking at weekly chart of Laurus Lab Ltd
the zone of 436-463 has seen buying interest on previous occasions
Target 1 for the current set up comes to around 583-604 zone
Target 2 - 700-720 odd levels
Time frame 2-3 years
A word of caution: Below 435 next important support is around 340-370 zone. So plan your trade accordingly...!!!
This is...
HDFCAMC has formed a pennant pattern on a daily timeframe which is being backed by the support zone.
Reasons to enter -
1. Accumulating for the last 4 trading sessions.
2. Testing the trendline 3rd time.
3. Overall Market structure is bullish
SBIN
We are looking at weekly chart of SBIN stock
Observations
- SBIN is yet to give a weekly closing above the Sept 12 - Sept 19 weekly high
- support at 554 / 545 / 530 zone
Given the set up
One can wait for SBIN to close and sustain above 579 on a weekly closing basis or for at least 3 days before taking for fresh long position
Otherwise 530-540 zone could...
Nifty
- We are looking at daily candlestick chart
Observations
- On 16 Sept Nifty opened gap down between 17877 to 17796
- coincidently Nifty 76.4% retracement level is also around same level 17777
- for 4 consecutive days Nifty is struggling at 17800 levels
- With 1 hour's trade to go today volume is on a lesser side
Given the conditions, fresh longs in...
Ambuja cement
We are looking at weekly chart of Ambuja Cement
- weekly closing high 539.35
- low made thereafter 471.05
The stock has possibly done its short term target on the upside (Jitna neeche utna ooper)
View: Rangebound
Given the set up one may consider a Bear Call Spread strategy
Sell 560 Call option currently around 8.3
Buy 600 Call option...
ICICI Bank
We are looking at daily candlestick chart pattern
Observations
- ICICI Bank chart reflects it made a gravestone doji on September 15, 2022 (indicates previous buyers were happy to sell at 936 odd levels)
- subsequently we saw profit booking in the stock
- now the stock is back at 920-940 odd levels
- we see ICICI Bank still not making a decisive...
Nifty
- we see Nifty trading above 21 day EMA, 63 day EMA and well above 252 day EMA
- Line of resistance around 18200 odd levels
- Line of Support around 16800
- So is the 200 day EMA support around 16780
Right now we are in the middle of the range
Trading strategy
Given the set up one may consider a Short Strangle strategy for Nifty for November...
Observations
- we are looking at Post 2008 Global meltdown era
- the chart here is Nifty weekly chart
- we have used 252 week EMA for our thesis
- A Cycle here is defined as the rise of Nifty from 252 week EMA - making a top and then retesting the 252 week EMA
- correction only to the point of 252 EMA is taken in to consideration
- to cut off the noise, only...
Nifty
Retail traders had a bet neutral addition in Index Futures and in Options had a net positive bias
FIIs added more on the Short side in Index Futures and in Options had a net negative bias
Proprietary traders added Long in Index Futures but have hedged it using Options
Before taking any trade decision today Important pointers
PCR is at 0.72
Since...
