NIFTY:
Cracked below 7950.
It is residing on major support around 7920. One should see good bounce back and probable gap up opening. RSI is in oversold region.
FIIs were net sellers in cash but bought huge in Future. DII bought too at lower levels. OI analysis one could see major support around 7800 and major resistance around 8200. Interestingly no unwinding seen in 7800 and 7900 PUTs, on the contrary increase in OI seen at 7800 and 7900, this could be an addition of PUT sell contracts and will ensure NIFTY to regain 8000 again immediately.
Lot of addition in 8000 CALL with Rs. 42 premium could indicate resistance in 8042 level. If NIFTY crosses 8040, lot of unwinding in 8000 CALL could take NIFTY to new highs. As per attached chart also NIFTY could give fresh breakout above 8048.
Do not dare to short NIFTY and keep booking profit in CALL sell positions. This is the golden opportunity to exit CALL sell positions for the month.
FED meeting this week will decide further trend in NIFTY, if rate is hiked by FED one could see mega drop in index, 7840 could be big support, if that is taken away NIFTY will fall like anything.
Those who would like to bet on FED could buy 7800 PUT around 10/- and 8100 CALL around 15-20. Small investment, could become zero, but if this month's profit permits it is worth taking risk of about Rs. 1500/-.
IFCI
Hold. It could go to 29.5 and option could be above 1.50 in next few trading sessions. This could provide good profit booking opportunity.
DLF
It could go till 147-149 in cash.
Worth holding strategy for next couple of days.
Disclaimer: This blog does not take any responsibility of your profit/loss
Cracked below 7950.
It is residing on major support around 7920. One should see good bounce back and probable gap up opening. RSI is in oversold region.
FIIs were net sellers in cash but bought huge in Future. DII bought too at lower levels. OI analysis one could see major support around 7800 and major resistance around 8200. Interestingly no unwinding seen in 7800 and 7900 PUTs, on the contrary increase in OI seen at 7800 and 7900, this could be an addition of PUT sell contracts and will ensure NIFTY to regain 8000 again immediately.
Do not dare to short NIFTY and keep booking profit in CALL sell positions. This is the golden opportunity to exit CALL sell positions for the month.
FED meeting this week will decide further trend in NIFTY, if rate is hiked by FED one could see mega drop in index, 7840 could be big support, if that is taken away NIFTY will fall like anything.
Those who would like to bet on FED could buy 7800 PUT around 10/- and 8100 CALL around 15-20. Small investment, could become zero, but if this month's profit permits it is worth taking risk of about Rs. 1500/-.
IFCI
Hold. It could go to 29.5 and option could be above 1.50 in next few trading sessions. This could provide good profit booking opportunity.
DLF
It could go till 147-149 in cash.
Worth holding strategy for next couple of days.
Disclaimer: This blog does not take any responsibility of your profit/loss
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