Tomorrow market will take direction based on Infosys results.
One must not forget Rupee story. Lot of shorts must have been built in. Soon there could be short covering and Rupee may again depreciate wrt USD. The other most traded pairs in world EURO/USD and USD/JPY have tilted away from USD in last two days. This means globally USD is presently in over bought zone. RBI and SEBI had also taken some actions in swapping Rupee from the domestic market.
All this has culminated in Rupee appreciation. This does not seem to have long lasting effect, but has benefited market for short term.
Market finds reasons for movements. Earlier there was rate cut rumors which took market up, then came Rupee depreciation and quite some time market was governed by Rupee movement and it is still continuing. Now came Bernanke. There is no fundamental change which will help to sustain the rally. However, I do give lot of importance to FII data and now FII again turned in to buyers. If FII continue buying tomorrow, then it must be considered as value buying and in near terms market is likely to go up.
To summarize, tomorrow direction will be INFOSYS driven and in early next week Rupee movement will drive the market.
In short, hold all short positions (except INFOSYS) and keep booking profits in long positions.
Book profit in Heromotocorp.
Hold other option contracts.
Book either profit/loss in INFOSYS strategy tomorrow.
If INFY goes down our strategy will generate handsome profit.If advice by INFY is not good it can take support near 2200. If it goes up exit INFY strategy at loss.
Buy Bhartiartl 280 PUT between 2-2.50, maybe due to penalty imposed on them investors would like to exit in short term. Those who had earlier bought 280 PUT at 4/- can hold for profit. Target 6.50.
Disclaimer: This blog does not take any responsibility of your profit/loss
@ Taheer:
Strategy on my blog was
Buy IDFC 130 CALL in the range of 6-6.50/6.60. and sell IDFC 140 CALL in range of 3-3.50.
One should have already booked profit in my proposed strategy. Since I did not advised your IDFC strategy I would like to refrain myself from commenting.
One must not forget Rupee story. Lot of shorts must have been built in. Soon there could be short covering and Rupee may again depreciate wrt USD. The other most traded pairs in world EURO/USD and USD/JPY have tilted away from USD in last two days. This means globally USD is presently in over bought zone. RBI and SEBI had also taken some actions in swapping Rupee from the domestic market.
All this has culminated in Rupee appreciation. This does not seem to have long lasting effect, but has benefited market for short term.
Market finds reasons for movements. Earlier there was rate cut rumors which took market up, then came Rupee depreciation and quite some time market was governed by Rupee movement and it is still continuing. Now came Bernanke. There is no fundamental change which will help to sustain the rally. However, I do give lot of importance to FII data and now FII again turned in to buyers. If FII continue buying tomorrow, then it must be considered as value buying and in near terms market is likely to go up.
To summarize, tomorrow direction will be INFOSYS driven and in early next week Rupee movement will drive the market.
In short, hold all short positions (except INFOSYS) and keep booking profits in long positions.
Book profit in Heromotocorp.
Hold other option contracts.
Book either profit/loss in INFOSYS strategy tomorrow.
If INFY goes down our strategy will generate handsome profit.If advice by INFY is not good it can take support near 2200. If it goes up exit INFY strategy at loss.
Buy Bhartiartl 280 PUT between 2-2.50, maybe due to penalty imposed on them investors would like to exit in short term. Those who had earlier bought 280 PUT at 4/- can hold for profit. Target 6.50.
Disclaimer: This blog does not take any responsibility of your profit/loss
@ Taheer:
Strategy on my blog was
Buy IDFC 130 CALL in the range of 6-6.50/6.60. and sell IDFC 140 CALL in range of 3-3.50.
One should have already booked profit in my proposed strategy. Since I did not advised your IDFC strategy I would like to refrain myself from commenting.
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