Market continued downtrend.
Lot of volatility.
Sell on rise market. Everybody is waiting for Fed minutes and QE tapering more certainty. A slight negative statement from Bernanke will slide market further.
If market goes down, banking will collapse again. Many stocks fallen today, all those stocks which would have benefited from Rupee fall could not stand tall either. It was selling all over the place. But like today morning their could be short covering rally and market might correct a bit. Look for selling opportunities at higher levels.
However, if tapering is postponed, bond buying continued by US in near future market will go up to 5540 in very short time.
Maruti :
Maruti did not go down much today and available at attractive valuation. NIFTY crashed 2% even after positive opening whereas Maruti was down by just quarter percent. It is very close to demand levels around 1260. Up and above if market shows correction Maruti will cross 1360/1400 very soon.
Buy 1300 CALL between 30-35.
IDFC:
Banking will crash sooner or later. Buy IDFC 100 PUT between 3.5-4.0.
IDFC will will touch 93 and opened below 94/93 then next support is near 89.
Disclaimer: This blog does not take any responsibility of profit/loss
Lot of volatility.
Sell on rise market. Everybody is waiting for Fed minutes and QE tapering more certainty. A slight negative statement from Bernanke will slide market further.
If market goes down, banking will collapse again. Many stocks fallen today, all those stocks which would have benefited from Rupee fall could not stand tall either. It was selling all over the place. But like today morning their could be short covering rally and market might correct a bit. Look for selling opportunities at higher levels.
However, if tapering is postponed, bond buying continued by US in near future market will go up to 5540 in very short time.
Maruti :
Maruti did not go down much today and available at attractive valuation. NIFTY crashed 2% even after positive opening whereas Maruti was down by just quarter percent. It is very close to demand levels around 1260. Up and above if market shows correction Maruti will cross 1360/1400 very soon.
Buy 1300 CALL between 30-35.
IDFC:
Banking will crash sooner or later. Buy IDFC 100 PUT between 3.5-4.0.
IDFC will will touch 93 and opened below 94/93 then next support is near 89.
Disclaimer: This blog does not take any responsibility of profit/loss
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