Auropharma 1000 CALL can be bought around 15

NIFTY went up by 100 points during the day but FIIs were net sellers and domestic institutions did most of the buying. This is not very comfortable situation for big up move.
Look at the below NIFTY chart. Unless, it goes above 7995 in spot, refrain yourself from buying anything and book profit in long positions.

Option table is giving contradictory signals but tilted clearly in favor of bulls.

However, follow up action is must.
One has to keep an eye on 8000 PUT contracts during first hour of trading for confirmation of up-trend, otherwise fall again towards 7840 is eminent. Or even it could go further down.
Yesterday option table gave at least some indication of reversal though I had not expected 100 points bounce back, but today though bulls have advantage, 7900 PUT is traded around Rs. 60/- suggesting again support around 7840.

Tomorrow if INFY results and commentary is good, NIFTY could see some momentum during morning session but it is important for NIFTY to held on above 7995.

Hold PUT positions,
Buy safe defensive stocks like Pharma.
Auropharma 1000 CALL can be bought around 15.

Disclaimer: This blog does not take any responsibility of your profit/loss