IIP data was not impressive. Now everything depends upon rate cut by RBI on June 17.
Market is having strong support a 5750 level, FITCH revised India rating., all this might result in slight pull back tomorrow, though US markets are down till now.
Some ideas are as below:
Sunpharma:
Sunpharma has to pay half a million USD to Pfizer for pantoprazole settlement, for which enough provision was not there in their balance-sheet, unlike Teva.
Teva made provision of 1.5 mio and they have to pay 1.6 mio.
Sunpharma stock will land first on support around 925. This could be good level to buy the stock for long term!
Buy 980 PUT between 30-32 and book profit at 60-65 level.
Bear spread strategy for Sunpharma
Buy 980 PUT between 30-32 and sell 940 PUT @ 12.
Maximum loss could be 5000/- whereas profit potential of 7000/-
LT
Those who have bought 1400 PUT and sold 1360 PUT, it is advisable to buy LT future around 1400.
This will lock the loss and profit.
Maximum profit could be Rs. 10000/- whereas maximum loss could be Rs. 2500/- If you buy future around 1400 then hold all positions till expiration.
TCS: Adjust target to 48.
Heromotocorp:
Heromocorp has formed double top. It should come down by 100 points before expiry.
Buy 940 PUT of Heromotocorp between 10-14. Low risk of 2500-3000, for target 25-30 within next two weeks. or one can expect stop to close around 900 at expiry.
JM Financial
Buy JM in cash around 28-29 for target 45/- in two months.
Disclaimer: This blog does not take any responsibility of your profit/loss
Market is having strong support a 5750 level, FITCH revised India rating., all this might result in slight pull back tomorrow, though US markets are down till now.
Some ideas are as below:
Sunpharma:
Sunpharma has to pay half a million USD to Pfizer for pantoprazole settlement, for which enough provision was not there in their balance-sheet, unlike Teva.
Teva made provision of 1.5 mio and they have to pay 1.6 mio.
Sunpharma stock will land first on support around 925. This could be good level to buy the stock for long term!
Buy 980 PUT between 30-32 and book profit at 60-65 level.
Bear spread strategy for Sunpharma
Buy 980 PUT between 30-32 and sell 940 PUT @ 12.
Maximum loss could be 5000/- whereas profit potential of 7000/-
LT
Those who have bought 1400 PUT and sold 1360 PUT, it is advisable to buy LT future around 1400.
This will lock the loss and profit.
Maximum profit could be Rs. 10000/- whereas maximum loss could be Rs. 2500/- If you buy future around 1400 then hold all positions till expiration.
TCS: Adjust target to 48.
Heromotocorp:
Heromocorp has formed double top. It should come down by 100 points before expiry.
Buy 940 PUT of Heromotocorp between 10-14. Low risk of 2500-3000, for target 25-30 within next two weeks. or one can expect stop to close around 900 at expiry.
JM Financial
Buy JM in cash around 28-29 for target 45/- in two months.
Disclaimer: This blog does not take any responsibility of your profit/loss
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