After good accumulation of funds in trading account by selling CALLs in last two weeks, it is time now to free arms by buying some CALL and PUTs to see whether we can increase our profit. Use strict SL so that profit generated so far is protected.
Few things happened after market closure on Friday.
Tatamotors declared good set of numbers backed by JLR.
Maharashtra Bank announced that it is not in good shape.
US job data had unexpectedly surged and US markets responded very positively to this booster dose to their economy. This could be a good indication that tapering would happen soon, cheap money will go away. Fed does not have to feed economy with zero rate interest funds. Dollar index gone up by almost half a percentage after US job data, hence Rupee would depreciate on Monday and may cross 63 if dollar strengthens further. Singapore NIFTY did not show any upward movement after job surge information. But one can not predict what our NIFTY would do tomorrow. NIFTY would have strong resistance between 6180-6190 levels, even if there is gap up opening.
If it crosses 6190 in cash then it is advisable to book loss in NIFTY bear positions, if NIFTY goes below 6120 in opening session then look for further downside of 50/60 points quickly. However, the highest open interest at 6000 PUT will ensure, for short term NIFTY does not go below 6000 for sure. So one can expect bounce back from near 6000 levels.
SBI results are due on Wednesday next week and will impact NIFTY and BankNIFTY. If results (or NPA) are not good, one may see unwinding of 6000 PUT and there could be real down fall in NIFTY after Wednesday.
SBI
Very low risk strategy, if NPA situation is not good, again SBI may dip to 1670 which is about 78% retracement from earlier top. If it breaks this level on result day, then it could go to 1450 very soon. Keeping an eye on this probable scenario one can risk Rs. 2500 and buy 1600 PUT between 20-23 and look for target above 50 on Wednesday afternoon.
Risk averse can but 1550 PUT @ 12 by spending only Rs. 1500/- Target 31/-
HCLTECH:
Buy HCLTECH 1160 CALL around 15-16. Target 23. SL 9
TCS:
Hold TCS 2160 CALL with SL 18
DLF
Buy DLF 140 PUT between 3-3.50, target 5.20/5.25
ORCHID CHEMICALS:
Buy Orchid Chemicals in cash around 54-55 and hold for three to six months for target 75-80.
Disclaimer: This blog does not take any responsibility of your profit/loss
Few things happened after market closure on Friday.
Tatamotors declared good set of numbers backed by JLR.
Maharashtra Bank announced that it is not in good shape.
US job data had unexpectedly surged and US markets responded very positively to this booster dose to their economy. This could be a good indication that tapering would happen soon, cheap money will go away. Fed does not have to feed economy with zero rate interest funds. Dollar index gone up by almost half a percentage after US job data, hence Rupee would depreciate on Monday and may cross 63 if dollar strengthens further. Singapore NIFTY did not show any upward movement after job surge information. But one can not predict what our NIFTY would do tomorrow. NIFTY would have strong resistance between 6180-6190 levels, even if there is gap up opening.
If it crosses 6190 in cash then it is advisable to book loss in NIFTY bear positions, if NIFTY goes below 6120 in opening session then look for further downside of 50/60 points quickly. However, the highest open interest at 6000 PUT will ensure, for short term NIFTY does not go below 6000 for sure. So one can expect bounce back from near 6000 levels.
SBI results are due on Wednesday next week and will impact NIFTY and BankNIFTY. If results (or NPA) are not good, one may see unwinding of 6000 PUT and there could be real down fall in NIFTY after Wednesday.
SBI
Very low risk strategy, if NPA situation is not good, again SBI may dip to 1670 which is about 78% retracement from earlier top. If it breaks this level on result day, then it could go to 1450 very soon. Keeping an eye on this probable scenario one can risk Rs. 2500 and buy 1600 PUT between 20-23 and look for target above 50 on Wednesday afternoon.
Risk averse can but 1550 PUT @ 12 by spending only Rs. 1500/- Target 31/-
HCLTECH:
Buy HCLTECH 1160 CALL around 15-16. Target 23. SL 9
TCS:
Hold TCS 2160 CALL with SL 18
DLF
Buy DLF 140 PUT between 3-3.50, target 5.20/5.25
ORCHID CHEMICALS:
Buy Orchid Chemicals in cash around 54-55 and hold for three to six months for target 75-80.
Disclaimer: This blog does not take any responsibility of your profit/loss
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