NIFTY has taken support at crucial level today.
It can bounce back from this level again within no time. If it opens above 6140 and crosses 6160, very soon it will reach new highs. In spite of today's sharp fall FIIs bought in cash and future segment.
Just watch Rupee movement before market opens tomorrow, if Rupee is down market will be down and vice versa.
However, if NIFTY goes below 6110 do not let go opportunity to short NIFTY future with SL of 30/40 points.Or immediately buy multiple lots of 6100 PUTs and keep booking profit at regular intervals with trailing SL or hold 6100 PUTs till NIFTY crosses 6160 in spot.
It is very easy to lose money in this kind of market. So secure profit you have earned so far by selling CALL options, and do take the risk only if your profit gained (so far in) this month permits you to do these trades.
AXISBANK:
Book profit in AXISBK 1150 CALL at around 10/11. It has strong support near 1070/1080 in cash. If it goes near 1085 in cash, exit call option and book profit.
Book profit in JP ASSOCAT CALL sell contract.
Lottery trades:
KARNATAKA BANK
Buy KTKBANK 95 PUT around 0.50/0.60.
If market falls, PSU banks will lead downfall for sure and KTKBANK has no support till it reaches 75-80 range. It is moving in contracting tangle. If it closes below 97 it can fall very sharply. One can hope this would happen during next 6 trading sessions!
IDFC
IDFC is in channel, to break the channel, it must close below 101. But since this is lottery trade, one can buy 100 PUT at around .90/1.00.
If IDFC goes below 101, it has a potential to slide down up to 88.
These two stocks are worth trading and do have potential to fetch good profit if market continues to move down. But based on high liquidity, election boom, I don't think market has too downside potential. Maybe I am biased and could go wrong in assessment as there is huge unwinding of 6000 PUT today!
But since FIIs are buying we also should have one buy trade for lottery.
TATASTEEL
Buy 400 CALL of TATASTEEL at 2.30/2.50.
Total investment in all lottery trades will be approximately 5000/-. But mind you this is lottery, you will lose entire 5000 in next six trading sessions. But even if one trade clicks among these three, you will be in the money.
I repeat, if your profits for the month permit to take these trades then only do enter in these contracts otherwise in trading, money saved is money gained!
Disclaimer: This blog does not take any responsibility of your profit/loss
It can bounce back from this level again within no time. If it opens above 6140 and crosses 6160, very soon it will reach new highs. In spite of today's sharp fall FIIs bought in cash and future segment.
Just watch Rupee movement before market opens tomorrow, if Rupee is down market will be down and vice versa.
However, if NIFTY goes below 6110 do not let go opportunity to short NIFTY future with SL of 30/40 points.Or immediately buy multiple lots of 6100 PUTs and keep booking profit at regular intervals with trailing SL or hold 6100 PUTs till NIFTY crosses 6160 in spot.
It is very easy to lose money in this kind of market. So secure profit you have earned so far by selling CALL options, and do take the risk only if your profit gained (so far in) this month permits you to do these trades.
AXISBANK:
Book profit in AXISBK 1150 CALL at around 10/11. It has strong support near 1070/1080 in cash. If it goes near 1085 in cash, exit call option and book profit.
Book profit in JP ASSOCAT CALL sell contract.
Lottery trades:
KARNATAKA BANK
Buy KTKBANK 95 PUT around 0.50/0.60.
If market falls, PSU banks will lead downfall for sure and KTKBANK has no support till it reaches 75-80 range. It is moving in contracting tangle. If it closes below 97 it can fall very sharply. One can hope this would happen during next 6 trading sessions!
IDFC
IDFC is in channel, to break the channel, it must close below 101. But since this is lottery trade, one can buy 100 PUT at around .90/1.00.
If IDFC goes below 101, it has a potential to slide down up to 88.
These two stocks are worth trading and do have potential to fetch good profit if market continues to move down. But based on high liquidity, election boom, I don't think market has too downside potential. Maybe I am biased and could go wrong in assessment as there is huge unwinding of 6000 PUT today!
But since FIIs are buying we also should have one buy trade for lottery.
TATASTEEL
Buy 400 CALL of TATASTEEL at 2.30/2.50.
Total investment in all lottery trades will be approximately 5000/-. But mind you this is lottery, you will lose entire 5000 in next six trading sessions. But even if one trade clicks among these three, you will be in the money.
I repeat, if your profits for the month permit to take these trades then only do enter in these contracts otherwise in trading, money saved is money gained!
Disclaimer: This blog does not take any responsibility of your profit/loss
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