NIFTY is bouncing time and again from 5970-5980 levels. It went up three times in last 6 trading sessions from 5970-5980. This has become psychological level and traders are confident that NIFTY is going to go up from these lows. Please note, in spite of lot of selling happened from recent top, traders are selling 6000 CALLs. This is surprising as normally when NIFTY falls one would logically see unwinding of CALLs which are ATM. This is not happening this time and hence there could be some bounce back to 6100 levels very soon.
PCR is in oversold region.
Dollar index has fallen and very soon it might go sub-eighty levels. This will help Rupee to appreciate for some time and this could reflect in upward movement of NIFTY.
Exit CALL sell positions if any. Book profit.
POWERGRID
This is one option trade which noone should miss and enter in to the trade before market makers start looking at it.
This contract has all ingredients in place to show 20/30 up-move before this month's expiry. It is very cheap also presently. It is at lower band of Bollinger. It will try to move up from lower band. RSI is below 30 on 9 D chart. CCI is oversold and most importantly in falling market on Friday stock was solid and in fact went up with high volumes. This 93-95 is demand level and stock went down only once in last three years below this level. .
Buy 95 CALL between 0.40-0.70, this could give very good returns if stock crosses 100 in next four days.
Target 3.9/4.5.
Set limit order as this contract is not very liquid.
This stock is good for medium term buy too with 3/6 month horizon, if it crosses 101 very soon it can reach 114/115 levels.
Disclaimer: This blog does not take any responsibility of your profit/loss
PCR is in oversold region.
Dollar index has fallen and very soon it might go sub-eighty levels. This will help Rupee to appreciate for some time and this could reflect in upward movement of NIFTY.
Exit CALL sell positions if any. Book profit.
POWERGRID
This is one option trade which noone should miss and enter in to the trade before market makers start looking at it.
This contract has all ingredients in place to show 20/30 up-move before this month's expiry. It is very cheap also presently. It is at lower band of Bollinger. It will try to move up from lower band. RSI is below 30 on 9 D chart. CCI is oversold and most importantly in falling market on Friday stock was solid and in fact went up with high volumes. This 93-95 is demand level and stock went down only once in last three years below this level. .
Buy 95 CALL between 0.40-0.70, this could give very good returns if stock crosses 100 in next four days.
Target 3.9/4.5.
Set limit order as this contract is not very liquid.
This stock is good for medium term buy too with 3/6 month horizon, if it crosses 101 very soon it can reach 114/115 levels.
Disclaimer: This blog does not take any responsibility of your profit/loss
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