NIFTY is showing no sign of weakness except it showed reversal from 5970-75 region. But I don't think it is completion of wave (EW) v otherwise there could have been stiff fall. FII are again buying like anything. Today global cues are strong and tomorrow, if market gives positive opening this level could be easily crossed.
High expectations are built about rate cut. Maybe 25 basis point is already discounted in this rally but more cut could carry this rally forward.
There could be some hiccup after IIP data tomorrow at 11 AM and if it is not as per market expectation, their could be temporary southward movement.
IT stocks especially TCS and INFY shown weakness. Perhaps they are highly priced by now. And this is genuine profit booking. There is not much room left now for both to take further strides. Rupee is also slowly appreciating, these stocks have nothing to do with RBI policy. So all said and done selling OTM Calls for both seems to be safe strategy.
Sell 3150 INFY March CALL at 7- 7.50
Sell 1650 TCS March CALL at 6-6.50 Or
Sell 1800 TCS April CALL at 8-8.50, but exit before quarterly results next month around April 12.
One should able to gain about Rs.2000 in next 16-17 days by selling these CALL options.
Disclaimer: This blog does not take any responsibility of your profit/loss.
High expectations are built about rate cut. Maybe 25 basis point is already discounted in this rally but more cut could carry this rally forward.
There could be some hiccup after IIP data tomorrow at 11 AM and if it is not as per market expectation, their could be temporary southward movement.
IT stocks especially TCS and INFY shown weakness. Perhaps they are highly priced by now. And this is genuine profit booking. There is not much room left now for both to take further strides. Rupee is also slowly appreciating, these stocks have nothing to do with RBI policy. So all said and done selling OTM Calls for both seems to be safe strategy.
Sell 3150 INFY March CALL at 7- 7.50
Sell 1650 TCS March CALL at 6-6.50 Or
Sell 1800 TCS April CALL at 8-8.50, but exit before quarterly results next month around April 12.
One should able to gain about Rs.2000 in next 16-17 days by selling these CALL options.
Disclaimer: This blog does not take any responsibility of your profit/loss.
No comments:
Post a Comment