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...
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/- -...
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...
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...!!!
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
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
Nifty Cmp 9253 Prima facie, Nifty looks likely to close above 9230 One may avoid temptation to buy put options
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...
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...
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...
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...
In the previous post we had highlighted that FIIs were not playing for the down move and on the downside the zone of 8816-8835 will be very important . Well, Nifty made a low of 8821.90 and recovered from there to close in the green. That’s the power of data and chart analysis for you. So let’s see what we have got today. FIIs were again Net buyers today....
Wipro Cmp 187.85 Chart is self explanatory. Alternatively one may consider the following strategy Sell Wipro 30 April expiry Put option Strike Price : 180 Price range : 6-7.5 Lot size : 3200 Target : 1.6 / 0 Stop loss : if Wipro closes below 178 in cash market Safe trading...!!!
In our previous post we had highlighted the importance of 8986-9027 level. That level is still being respected. Nifty has closed in the said range at 8993. Let’s see what data has to say for the expiry week 16th April 2020. FIIs sold 8.46K contracts worth 474.69 Cr. FIIs booked profits and squared off 7489 Long Contracts and they added just 979 Short...
So, as was suggested Nifty did face resistance at 9185-9233. It opened at 9196 made a high of 9261 and came down to close 68 points in the negative at 8925. Now Will we see the lower end of the range as suggested in previous post...? Link to previous post Let’s see what we have got in our hands today… FIIs were net buyers in Futures. 19.2K contracts ...
Canara Bank - Canara Bank trading at lower end of the channel - Level of 85.50 - 86 needs to protected for further upside movement continuation - holding the same the stock may again attempt for 93 / 95.50 / 102 / 107 - Stop loss if Canara Bank closes below 83.50 on a hourly candle basis Alternatively one may consider the following F&O strategy for Canara...
L&T CMP 909 This is what was recommended on 7th April We cannot time the market, but when time comes, we can surely make the most of it. The stock has given a nice 14% jump in a week's time. Hope u guys enjoyed the journey. Do note Profit booking has been recommended at current levels.... Do follow for more trading ideas... Happy trading... !!! :-)
DLF CMP 148.50 The zone of 168-177 may not be easy to cross and it may act as a resistance zone. Given the view one may Consider the following strategy Consider Selling DLF 30 April 2020 expiry Call option Strike Price: 160 CMP: 10.50 Lot size: 3300 The strategy has a maximum profit potential of Rs 34650/- (Profit potential of 22.5% on Margin...