indiamarketoutlook

indiamarketoutlook Updated 

Nifty - earlier we had discussed the importance of 15628 and 15735 and Nifty made a low of 15635 and high of 15737 that day. - In our previous post we had given levels of 15804 - 1840 levels for today That is exactly where we have seen Nifty spend the whole day today. - on a 15 minute chart - First candle, Nifty closed at 15807 and (3 points...

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NMDC 173.30 - Offer for Sale by Govt at 165 - Support zone as per charts around 167 - 171 - Momentum might come above the red line Target for the given set up 192 - 202 initially Risk factor: If the yellow support zone is taken out, it may fall down to the blue line. So have provisions have for that scenario too and plan your trade accordingly. Take care ...

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Bharti Airtel Observations - we are looking at monthly chart for Bharti Airtel - since March 2021, the stock has not done much and is consolidating - the stock is consolidating above the breakout green line and - a Cup & Handle Pattern is still intact that has took 14 years in the making (a scotch would add value in that long period 😉) Would that be the...

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Kotak Mahindra Bank Observations: - On the upper side 1804-1825 levels has acted as resistance - 20 day EMA is around 1773 - 50 day EMA is around 1707 - The yellow zone has acted as a major resistance back in Dec 2019 - Feb 2020 - Now it is consolidating near the same levels For Cash buying consider buying in 2 tranches - one at current levels and 2nd - on...

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Nifty In morning post, the importance of 20 day EMA at 15677 and 61.8% retracement around 15628 was discussed and so was the level of 15735 Nifty respected all the levels very well ( 20 day EMA on closing basis, 61.8% retracement on intraday low basis and 15738 was the high for the day)😊 - Today's closing also reflects a Bullish Harami candlestick...

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ICICI Bank Observation - 20 day EMA is at 636 - 50 day EMA is at 626 Given the set up, one may consider a Bull Put spread strategy Sell 620 Put option around 9 - 10 Buy 600 Put option around 4 - 4.5 Lot size 1375 The strategy has a yield potential of 12.7% approximately on margin requirement & has an inbuilt loss protection for a fall in price up to 615...

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Nifty Last time when Nifty was at 15833, our view did not fit in but our strategy to sell 15700 Put option has kept us in the game. ( Nifty is down 150 points. Loss in our strategy is of 14 points ) - 20 day EMA is around 15677 - 61.8% retracement level is at 15628 . Will it take support here or continue the free fall ? I would be cautious if today's...

indiamarketoutlook Updated 

Nifty Till the time Nifty is above 15760-15780 on a daily closing basis it might slowly look to crawl up Trading Strategy Sell Nifty 15 July expiry 15700 Put option currently around 120 The strategy provides an inbuilt risk cover for a fall in Nifty price up to 15580 till 15 July expiry. Take care & safe trading...!!! Disclaimer - The view expressed here...

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Ashok Leyland This is what was posted on June 21, 2021 At 115.90 the stock was near the blue line which had acted as resistance previously... In Technical Analysis theory, there is a higher probability of previous resistance acting as support and vice versa. Based on this simple rule the trade was initiated. Today Result NEWS has come out and stock opens...

indiamarketoutlook Updated 

Ashok Leyland CMP 115.80 Chart suggests at current levels the stock provides good risk::reward ratio to go long. Pattern gets invalidated if Ashok Leyland trades below the blue dashed line Follow the levels Take care & safe trading...!!!

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LIC Hsg Fin - The zone of 440-458 is crucial zone for LIC HSG FIN - Blue support line currently around 420 odd levels The target for the current set up 492 / 505 / 518 Strategy: One may consider buying in 2 tranches 1 at current levels and 2nd on further dips towards blue line Exit if closing below...

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Aurobindo Pharma Observation - we see a stupendous rally in stock from 797 to 1063.90 levels in 2 months - Since May 11, 2021 The stock is in down trend - 899 is 61.8% retracement level for Aurobindo Pharma - 880-889 has played a crucial role for the stock acting as resistance and support multiple times Given the set up Any price around 920-880 provides...

indiamarketoutlook Updated 

DLF - level of 308-313 holds significance for the stock - given the set up one may consider to sell 320 Call option CMP around 6.3 - be cautious if DLF trades above 309 and exit if closes above 313 The strategy has a maximum profit potential of Rs 20790 per lot and has inbuilt loss protection for a rise in price up to 326.30 giving ample opportunity to adjust...

indiamarketoutlook Updated 

Tata Steel Given the set up Suggested Strategy: Bear Call spread Sell 1160 Call option around 20 Buy 1210 Call option around 10 Yield potential till 24 June expiry: 12.4% (approximately) The strategy covers risk for rise in price of Tata Steel up to 1170 Take care & safe trading...!!! Disclaimer - The view expressed here is my personal view - Past...

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Nifty has taken support at 15732 odd levels Nifty might attempt 16K in early July month Pattern gets invalidated if closing is below 15630 odd levels Risk::Reward ratio favors going Long 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...

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IRCTC In to the unknown.... To start with, we are looking at the weekly chart for IRCTC. Above 2184, the stock would be trading in the uncharted territory The time frame we are looking at is for investment decisions/ holding period of 1-2 years. We rely on Cup and handle pattern that we observe here. The orange line is the breakout mark and this is week...

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ONGC Last time we gave a target of 128 / 136 The stock did an exact 128 and has now retraced to 120 odd levels. As observed in the chart, at current price, the stock provides another opportunity to enter. Target 136 Pattern gets invalidated if closes below 114 Take care & safe trading...!!!

indiamarketoutlook Updated 

Idea 9.45 / 8.8 are 2 important levels for Idea The stock is at important 38.2% Fibonacci retracement support levels Short term target 12 / 14 Exit if weekly closing is below 8.50 Sustaining above 14.5 levels and the doors would open for target of 22 / 28 At current levels it provides good risk::reward ratio to go long Take care & safe trading...!!!