indiamarketoutlook

indiamarketoutlook

MGL - The stock is currently trading at lower end of the blue channel - important support levels on the downside 1081 / 1060 / 1030 - if the channel is withheld, potential target for the current set up could be 1195 / 1240 / and if sustaining above 1265 then doors would open up for 1485 - pattern gets invalidated if closes below the red line on daily charts...

indiamarketoutlook

ONGC - the stock looks good especially on any dips - The stock has given a breakout on monthly chart (Breakout zone 115-118) - Short term Target 150 / 157 / 169 - Medium term target 196 / 212 Please note we do have a positive bias in the stock since November 05, 2020 when the stock was at 67 odd levels and we had given a buy for a target of 114. Our...

indiamarketoutlook Updated 

ZEEL - on hourly chart we see a shooting star on 15 Sept with a high of 300.75 & closing at 266.90 - on a closing basis highest close on hourly chart is of 271.35 - today, we observe a Pole & Flag pattern in ZEEL this is usually seen as a continuation pattern Target for the current set up 236 / 233 /...

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Nifty CMP 17594 - Nifty has fallen in the last 2 trading sessions - however today it just re-tested the previous consolidation zone - further weakness might creep in only if we see this yellow zone being taken out. - On the upside on hourly chart Nifty formed a doji with a Open at 17751 and close at...

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Nifty - Yesterday there was Press Conference where our Finance Minister came up with the idea of forming of a Bad Bank and buying Rs 2 lakh Cr NPA of PSU banks for Rs 30,000 Cr . - this would clear up all the NPA of PSU Banks and going forward would help in showcasing better ROI . This possible expectation of good news is possibly one of the reasons why we have...

indiamarketoutlook

SBIN - there was a big positive announcement for PSU Banks yesterday evening by Finance Minister - On charts, we see SBIN trading near channel top levels given the set up, one may consider a Bear Call Spread strategy Sell 480 Call option currently around 8.6 Buy 510 Call option currently around 3.5 Net receivables in strategy Rs 7650/- per lot (yield...

indiamarketoutlook Updated 

Hindalco CMP 486 Potential Line of resistance around expiry comes at 513 levels _____________________________________________________________________________________________________ Given the set up, one may consider to Bear Call spread strategy Sell 510 Call option around 5 & Buy 540 Call Option currently around 1.7 Lot size 2150 Net receivables 3.3 * 2150...

indiamarketoutlook Updated 

Nifty Consider selling Nifty for target of 17080 / 17030 till expiry SL : Exit if closing is above 17450 High risk traders may consider buying 30 Sept expiry 17200 Put option currently around 90 The view could be biased because of previous update Previously had suggested selling 17500 Call option at 100 Overall we now have synthetic short (giving us...

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Nifty CMP 17308 - Nifty is still going up - however we see Nifty is struggling to keep up with the pace - From 30 March 2020, we observe Nifty trading in blue channel - however since 30 March 2021 exactly after 1 year, we see Nifty struggling to stay in blue channel and subsequently it came to the midpoint of yellow channel - currently it is at the crossroads...

indiamarketoutlook Updated 

IRCTC CMP 3355 - we observe supply increasing in IRCTC once stock goes above 3300 - 3270 / 3252 / 3238 are some important levels - however if we see these levels being taken out probability of IRCTC testing the target zone would...

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HDFC AMC CMP 3242 - we observe the stock is near it's potential resistance level ________________________________________________________________________________________________________________ given the set up one may consider to sell HDFC AMC 3500 Call option currently around 38 Yield potential in strategy is approximately 8% till Sept expiry. More...

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IRCTC - The stock had given a breakout in June 2021 - the breakout had taken the stock in to uncharted territory - luckily, we see stock giving us a cue with a Cup & Handle chart formation to arrive at a target of 3200 above. Neck line of cup is at 1994 and the low made is of 774 - giving us 1220 points for the taking. Adding that 1220 to the neck line level,...

indiamarketoutlook Updated 

DLF Observations - Stock has done a 76.4% retracement of the fall from 359.25 to 303 levels Given the set up one may consider to sell DLF F&O strategy Consider Bearish Call spread Sell DLF 350 Call option around 11 Buy DLF 370 Call option around 5 Net receivables in strategy 19800/- per strategy lot (yield potential around 20% till expiry) Be cautious...

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Aurobindo Pharma CMP 740 - In the last month and a half, the stock has taken a lot of beating and has been down and out... - since 18 Aug the stock has climbed slowly and steadily - the stock has seen resistance exactly near 20 day EMA Momentum might be seen once closes above 760. The zone of 738-712 if held on to may provide a back bone for further recovery...

indiamarketoutlook Updated 

Nifty On rise, one may look to sell Nifty. T1 and T2 are highlighted in charts SL one may keep a SL at 17442 for Nifty 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 responsibility for the same - It's your...

indiamarketoutlook Updated 

Nifty Consider selling Nifty for target of 17280 / 17230 Option: One may consider to buy Nifty 17300 Put option in the range of 58-65 for target of 82 / 98 / 107 / 130 SL as per your risk appetite Disclaimer - The view expressed here is my personal view - Past performance is not a guarantee for future predictions - Use this for educational purpose - Any...

indiamarketoutlook Updated 

ONGC CMP 119.55 This is what was mentioned on 11 Aug It was highlighted that momentum might come above trendline. Today it crossed that trendline. Looks like the stock has finally given a breakout Target of 129/ 133 is on _________________________________________________________ F&O strategy One may Consider buying 120 Call option in the range of 2.8 -...

indiamarketoutlook Updated 

BOB CMP 79.35 Sell for intraday target of 78.4 / 77.30 SL 80.30