Nifty
We had mentioned in our earlier post that Nifty expiry might be capped at 10058 and that is where we are seeing Nifty trading on expiry day.
We already have our strategy in place.
Not expecting fireworks today. Prima facie Nifty closing likely to be...
LIC HSG FIN
Cmp 260.8
Around 266-267 is an important level which may act as resistance
Given the setup, one may consider selling LIC HSG FIN 25 Jun expiry 280 Call option currently at 11
Max profit potential Rs 14300/- per lot (yield potential of 14% approximately) till 25 June.
More importantly, In built loss protection for rise in price up to 291 in...
Vedanta
On 20 May we had recommended this idea as cash buy for a target of 97.5 & above 98 for extended target of 102 / 104.
- first we observed Vedanta trading in upward channel highlighted by the blue lines
- we got further cues from trading pattern observed at the green gap zone
- it...
BPCL
CMP 350.5
- the stock has taken resistance exactly at 76.4% retracement at 355 odd levels
- given the set up one may consider to 370 Call option currently at 12
Lot size 1800
Max profit potential Rs 21600/- per lot (yield potential of 8% til 25 June)
In built loss protection for a rise up to 382 in spot price
Take care & safe trading.
Nifty
Closing price 9826
For 02-June
Important resistance 9860-9880 / 9920 / 9990 / 10058
Important support 9780-9766 / 9733 / 9705 / 9682
Range for 04 June 2020 expiry
Upper range likely capped at 10058 till 04 June 2020
On the lower side 9682-9705 may likely act as support.
Take care & safe trading...!!!
Dow Jones
CMP 25125
Dow Jones is at crucial levels.
- 25220-25530 may be a tough zone
- headed in to Series of resistance
- any further rise may shift balance in favor of Shorts
Take care & safe trading...!!!
Vedanta
CMP 88.60
Last time we had given a buy above 95.65 but trade never got triggered.
Now the price has corrected & is in sub 90 levels
This is for positional cash buying. Consider buying in staggered manner.
- one at current price (88 is average for current month)
- use 2nd part only if Vedanta comes at channel support & we see a reversal from...
Nifty closed the day 313 points lower. Let us analyse the data for the day.
FIIs sold 16996 contracts in Index Futures worth 803.13 Cr
Futures data
Retail participants added 9.08K Long contracts & squared off 3.87K short contracts
FIIs squared off 1.05K Long contracts & added 15.94K Short contracts
Pro traders added 8.08K Long contracts & added 3K Short...
Nifty
Closing price 9066
Observation
- Nifty is trading in downtrend channel
- Important levels on the upside are 9105 / 9136 / 9158
- Important levels on the lower side 9044 / 9023 / 8996 / 8941
From positional point of view there is a possibility of Nifty heading towards 9266 / 9320 levels by month end.
Given the view, we would be considering to sell 28 May...
Maruti
Cmp 5126
On daily charts we observe 3 white soldiers candlestick pattern
Any dips towards 5080-5050 may be considered as entry opportunity
Target 5350 / 5575 / 5633 / 5820
SL Short term traders can keep SL @ 4980
Medium term play ( target 5620) - SL if closing below...
Nifty
Closing Price 9580
Nifty is well placed to attempt 10135 / 10336.
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One may consider selling Nifty 25 June expiry 9300 Call option in the range of 200 - 250
Max profit...
Hindalco
Closing price 124.40
- Any dips especially towards 121-119 provides good risk:reward ratio to go long for target of 133 / 136 / 140.50
SL 117
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Alternatively, consider selling Hindalco 25 June 2020 expiry 115 Put...
Greetings...!
This is the 3rd installment of Trader, Cricketer & You series. Hope you are able to connect with the analogy. The link for previous 2 is given in "related ideas" below. And after reading, if you find it interesting, do share it.
Starting with cricket in general, to different formats in cricket, in this 3rd part of the series, we are getting more...
Nifty Closing price 8879
- we observe bullish harami candlestick pattern
- Hence shorting this structure might not be a good idea.
- It might be buying on dips or no trade
- ideally 8806 should not be breached but given the current volatility, will be keeping some flexibility for levels of 8758-8766 levels.
We might consider selling Put options as our...
TCS
CMP 1945.60
SGX Nifty is showing a bumper opening. This may not be an easy one. Will require some patience to initiate a trade.
Scenario 1
After initial opening, observe if price gets rejected at 1985 / 2005 level.
If we see rejection only then look to sell for target of 1930 / 1921
Scenario 2
If TCS trades above those levels then next level to sell could...
Carrying it forward from where we left in the 1st part...
In case you haven't read the 1st part, you can read it here in the link below
A batsman’s (trader’s) approach to his batting (trading plan) depends on
Whether he is playing:
- Test match (Long term investment)
- One day...
