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LIC HSG FIN Closing price 261.85 Observations - Gap zone created on 4th May 2020 - stock faces resistance exactly at gap levels - broken the channel in the process - zone of 251-254 may provide some support - once that level is taken out the stock may come towards the green...

indiamarketoutlook Updated 

Aurobindo Pharma Closing price 648 The chart reflects certain pattern & based on our interpretation, we might see some consolidation in prices for the next month or two. If Aurobindo Pharma is to replicate a Mirror image pattern then a potential Short strangle strategy may be considered. Consider selling Aurobindo Pharma 720 Call option around 20 & 580...

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Cipla CMP 589 If I have to buy, that's the price (around 530) I would be looking at. Set your alerts around that level. Follow Take care & safe trading!!!

indiamarketoutlook Updated 

Nifty CMP 9210 Prima facie Nifty expiry looks likely to be capped on the upside with key levels of 9240 / 9266 / 9285 to act as resistance. On the lower side 9156 could likely be key support levels for the day. My trading play is more inclined towards upside being capped with 9240-9265 levels being my guiding levels This is just a view based on my...

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Nifty Cmp 9419 Read this to understand the power of Technical Analysis - There I had shown 4 charts Dax , Taiwan, Dow Jones, Hangseng to give me the confidence that Nifty has a high probability of testing 20 day EMA. - 20 day EMA is currently around 9250 odd levels. - So the message was loud & clear. a potential of 500-600 point drop in Nifty - do...

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Ashok Leyland Observation - Multiple resistance between 54-57 & then around 63 levels - before September, it could be extremely difficult to cross the red zone - below 47.65 target 45.50 - if Ashok Leyland starts trading below the green line, then it may be indication of further weakness & we may witness a quick fall towards 38-36 levels. One may consider...

indiamarketoutlook

The current lock down has been a tough situation for every one of us. The lock down can restrict you from going out but it cannot stop you from taking in as much knowledge as you want. Let's make the best utilization of current situation. Let's upgrade Trading is nothing less than a war. Think about it. In every trade that gets executed, for every buyer there...

indiamarketoutlook

Nifty Not so long ago on 18th April we had highlighted that staying above 20 day EMA will increase the chances of testing 50 day EMA in the next 14 days. Not that we have reached there but we are very close to it. In case you missed, you can follow the link below It did give a scare by dropping below 20 day EMA but next day itself it recovered. We were able...

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HUL CMP 2140 Resistance at 2200-2265 Target for the current setup 1928 / 1655 One may look to deploy the following strategy Consider Selling HUL 30 April Call Option Lot size: 300 Strike Price: 2240 Last closing Price : 122.25 Any price in the range of 110-125 may be considered to go short on Call option. Max profit potential in strategy : Rs 33000/- -...

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Infy Observation 675 minor resistance 691 - 696 - Critical resistance zone.. Consider selling if you see price rejection around resistance levels. Targets mentioned in the chart. Momentum on the downside might be seen if Infy closes below the 1st target of...

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Mindtree CMP 853 Consider short strangle strategy Consider selling 30-April-2020 expiry 900 Call option around 10 & 800 Put option around 15 Lot size 800 Max profit potential Rs 20000 Loss only if Mindtree closes above 925 or below 775 Take care & safe trading...!!!

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Nifty CMP 9363 Consider selling Nifty 30-April expiry 9100 Put option around 50 & 9600 Call option around 38 Max profit potential Rs 6600/- Loss only if Nifty closes above 9688 or below 9012 on 30-April-2020 Take care & safe trading...!!! Follow

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Dr Reddy We observe a bearish harami cross candlestick pattern. Levels mentioned in chart Alternatively one may consider selling Dr Reddy 4100 Call option Expiry: 30 April 2020 Lot size 250 Price range around 80 (Closing Price is 86.20) Target: 20 / 0 Take care & safe trading

indiamarketoutlook Updated 

Nifty Cmp 9253 Prima facie, Nifty looks likely to close above 9230 One may avoid temptation to buy put options

indiamarketoutlook Updated 

BPCL In our previous coverage on BPCL when the price was at 272 we had given a view that chart set up suggests upside movement towards 306 / 332 At current levels the stock has resistance at 366 / 385 odd levels One may consider selling BPCL 380 Call option between 10-12 The strategy has in built protection against loss for a rise up to 390-392 in...

indiamarketoutlook Updated 

In our previous post we had mentioned that if Nifty has to go down, it has to break below 20 day EMA in the next 2 days. That is what we have precisely seen. Opening scene of Day 2 – Nifty opens & stays below 20 day EMA throughout the day. We have accordingly suggested a trade in that post during market hours. Let’s analyse the data for the...

indiamarketoutlook Updated 

In our previous post we had suggested to be on side lines and do not indulge in trading Nifty for the day. And it wasn’t a bad decision after all. Nifty ended the day flat closing at 9262. Let’s see what we have got today. FIIs net bought 3.9K Contracts in Index futures worth Rs 245.14 Cr Futures - FIIs added 3.2K Future Long contracts & 696 Short...

indiamarketoutlook Updated 

On daily charts, we observe • Hanging man candlestick. Under normal conditions, a 150 point tail would have been significant candle, but given the way markets have moved in the last 2 months, we need further observations • While it has formed Hanging Man candlestick, it has also managed to close significantly above 20 day EMA. If Nifty has to go down it has to...