FED helped rally. 7980-8010 was strong support and was literally the last support before possible big fall and NIFTY respected that support.
Worrisome part is FIIs are selling continuously and DIIs are buying in this new rally. Normally this does not happen, it is other way round. But who knows, perhaps this time DIIs know more than FIIs.
Historically we have seen Bank NIFTY goes up for couple of days after each FOMC meeting. So tomorrow could be the last day for up move and this time rally could be short lived if FIIs don't buy even tomorrow.
But if FIIs start buying again, one can see 8800 levels before budget.
As an investor one should buy with SL 7900.
Update:
Book profit in AXISBANK 490 CALL
DLF:
High beta stock like DLF is not moving along with NIFTY. Something seems to be wrong with DLF. If NIFTY corrects next week, DLF would touch 110-115.
If your profit earned this month permits, then DLF could become a good lottery trade.
Buy DLF 125 PUT between 1-1.25.
Disclaimer: This blog does not take any responsibility of your profit/loss
Worrisome part is FIIs are selling continuously and DIIs are buying in this new rally. Normally this does not happen, it is other way round. But who knows, perhaps this time DIIs know more than FIIs.
Historically we have seen Bank NIFTY goes up for couple of days after each FOMC meeting. So tomorrow could be the last day for up move and this time rally could be short lived if FIIs don't buy even tomorrow.
But if FIIs start buying again, one can see 8800 levels before budget.
As an investor one should buy with SL 7900.
Update:
Book profit in AXISBANK 490 CALL
DLF:
High beta stock like DLF is not moving along with NIFTY. Something seems to be wrong with DLF. If NIFTY corrects next week, DLF would touch 110-115.
If your profit earned this month permits, then DLF could become a good lottery trade.
Buy DLF 125 PUT between 1-1.25.
Disclaimer: This blog does not take any responsibility of your profit/loss
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