Quite an unexpected performance by NiftyIT today up +1.51% which would have spoiled the party for the Nifty50 bears. Last week as it ended was looking pretty negative for Nifty and flattish for BankNifty.
Banknifty had a steady day today, down only 0.1% but the prices were consistently falling giving the impression that selling is still not over.
From a...
Banknifty Levels for Tomorrow..
Trend : Bearish
Sentiment : Negative
Expectation : Bearishly Aligned but Rangebound / Volatile day
Expecting Banknifty to Open Small Gap Down / Sideways Open any support near 34600 level we can look for Long Opportunity. Being an expiry day wait for 1st half to identify the trend and then take your trade around 1:30 Pm
Buy above...
CALL TRADE ANALYSIS
BANK NIFTY is looking bullish, if it breaks 34897 , then wait for targets 1, 2, and 3 (34969, 35094, 35172)
PUT TRADE ANALYSIS
If the Market turns to bear side then short after 34760 for target 1 34642.
(Capture your profit timely in bearish side because market can turn and time to bullish)
Note:
Black Lines: Breakout point, If...
A hugely volatile day observed following global cues. Flag patter in observed on 1 minute chart with a downside breakdown however, it is near a support zone. Wish to see the support would be held and continue with sideways movement.
Breakout visible at the end of the screen capture!
i am bullish till the market sustains above 10300 -10290. once the market sustains below 10290 will buy 10200 put and recover my otm put short money.
ideally, i will sell 11000 put and buy 11400 put to hedge my position( in 30 percent quantity.
example if I sell 11000 put 225 quantity then will buy only 75 quantity put.
Infy is plaing hide & seek with traders, in the last 3 sessions it formed 3 dojis (tri star doji) these formations comes close to a very high intensity supply zone. While all other IT stocks were faltering infy kept itself tightly clinged to the range, if the range is not taken out buy the buyers in a session or two, it will result into some fast corrections. The...
SUNPHARMA: The stock bounced off from a very strong support level. The momentum is supporting buyers. The RSI is well into the bullish range along with MACD which seems to be comfortable in bullish area too. A minor resistance is hindering the move at 430 above which a move past 500 levels are expected.
HDFCBank is trading near its all time high. As per pivot points its upside may be capped to 2360/2400. Creating below option strategy for this expiry. If HDFCBank approaches the BEPS, then will do necessary adjustments.
-1x 30MAY2019 FUTURES - ₹ 2286.35
+1x 30MAY2019 2260CE - ₹ 70.95
-1x 30MAY2019 2260PE - ₹ 45.25
-2x 30MAY2019 2360CE - ₹ 29.8
Max....
According to setup and OI analysis, I think a 23800 CE SELL @ 7.35
and 22800/22900 PE SELL @ 12.6/18.5 would be good enough for 6th July Weekly Expiry.
Market seems to be in deep consolidation mode after the Budget presentation. Although PCR(Put-Call Ratio) of 1.1 suggests that uptrend is intact but this consolidation may continue till the end of this series. As we know that the nature of Volatility is to expand and to shrink and after the recent heightened activity sluggish phase is quite natural. Under this...
