After market hours RBI Governor shrugged of the question of rate cut and secondly he mentioned RBI has very limited role to play in controlling depreciation in Rupee. Market movers will not consider this as positive cue.
Under uncertain situation in many emerging markets investors are having faith in USD and it is becoming stronger day by day. Perhaps HUL deal might appreciate Rupee for tomorrow. It is just above 60 today. If before market opens it slips below psychological number 60, market will give positive opening, if not NIFTY will go down towards 5700 and Bank NIFTY towards 11250 for sure.
Overall trend is down though as expected market showed bounce back. Tomorrow is Friday and maybe traders would like to sit on cash if Rupee depreciates further. Today there was lot of buying by FII.
SAIL
Buy 45 PUT option of July expiry between 1.20-1.30. Target 2.00.One can hold this position till next Friday.
Maximum investment Rs. 4800/-
Maximum loss Rs. 4800/-, but unlimited profit potential. Nevertheless keep booking profits after 10% gain.
DLF
Buy DLF 170 Put option of July expiry series at between 5 to 5.50, target 6.80.
Maximum investment 5500/-
Maximum loss Rs. 5500/-, but unlimited profit potential. Keep booking profits after 10% gain.
Book profit in HCLTECH
Heromotocorp: Adjust target to 34/-
KTKBANK strategy: exit at small loss.
Ranbaxy: Hold
IDFC: Book profit in 30 CALL sell option, set limit of 0.10, hold 27.5 CALL buy option.
Disclaimer: This blog does not take any responsibility of your profit/loss
Under uncertain situation in many emerging markets investors are having faith in USD and it is becoming stronger day by day. Perhaps HUL deal might appreciate Rupee for tomorrow. It is just above 60 today. If before market opens it slips below psychological number 60, market will give positive opening, if not NIFTY will go down towards 5700 and Bank NIFTY towards 11250 for sure.
Overall trend is down though as expected market showed bounce back. Tomorrow is Friday and maybe traders would like to sit on cash if Rupee depreciates further. Today there was lot of buying by FII.
SAIL
Buy 45 PUT option of July expiry between 1.20-1.30. Target 2.00.One can hold this position till next Friday.
Maximum investment Rs. 4800/-
Maximum loss Rs. 4800/-, but unlimited profit potential. Nevertheless keep booking profits after 10% gain.
DLF
Buy DLF 170 Put option of July expiry series at between 5 to 5.50, target 6.80.
Maximum investment 5500/-
Maximum loss Rs. 5500/-, but unlimited profit potential. Keep booking profits after 10% gain.
Book profit in HCLTECH
Heromotocorp: Adjust target to 34/-
KTKBANK strategy: exit at small loss.
Ranbaxy: Hold
IDFC: Book profit in 30 CALL sell option, set limit of 0.10, hold 27.5 CALL buy option.
Disclaimer: This blog does not take any responsibility of your profit/loss
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