NIFTY is range bound.
TCS has given good profit booking opportunity last week and one should have grabbed it.
For next few days banking stocks look promising based on rumors of rate cut, perceived lowering of inflation data and NAMO's speech about progressing India. A speech from Red Fort today and markets will cheer that for sure on Monday.
Look at the OI table for NIFTY for this month and next month.
This month's OI table
From this table it is clear that today smart traders are convinced that NIFTY will have support around 8200 and resistance around 8700 for August expiration.
For next month, traders are thinking it could go up to 9000 again. Lot of hopes on GST. Also historically September is good month for the market.
Lot of discussions about low monsoon and FED rate hike but investors at least today are not in mood to listen anything.
NIFTY had reversed from ichimoku cloud on day chart.
NIFTY is forming strong base in 8300-8400 levels and in last one month three times NIFTY bounced back from that zone.
In banking SBI is showing momentum.
SBI has very strong support around 250
With this one can enter in to following trades.
JPASSOCIAT is available at very cheap price. One can buy sizable quantity in cash segment. This is flagship company of big 20000 Cr group, lot of assets, much better than dot com and start up companies, If management could turn around the business in next couple of years then it will give very good returns. Otherwise downside from here is very limited.
Disclaimer: This blog does not take any responsibility of your profit/loss
TCS has given good profit booking opportunity last week and one should have grabbed it.
For next few days banking stocks look promising based on rumors of rate cut, perceived lowering of inflation data and NAMO's speech about progressing India. A speech from Red Fort today and markets will cheer that for sure on Monday.
Look at the OI table for NIFTY for this month and next month.
This month's OI table
For next month, traders are thinking it could go up to 9000 again. Lot of hopes on GST. Also historically September is good month for the market.
Lot of discussions about low monsoon and FED rate hike but investors at least today are not in mood to listen anything.
NIFTY had reversed from ichimoku cloud on day chart.
In banking SBI is showing momentum.
With this one can enter in to following trades.
- Sell 8700 strike NIFTY CALLs 100 quantity (4 lots) for September expiration around 115-125
- Sell 8200 strike NIFTY PUTs 100 quantity (4 lots) for September expiration around 60-70
- Buy SBI 280 CALL one lot of August expiration around 3.5-4.00
- Sell SBI 290 CALL one lot of August expiration around 1.5-2.00
JPASSOCIAT is available at very cheap price. One can buy sizable quantity in cash segment. This is flagship company of big 20000 Cr group, lot of assets, much better than dot com and start up companies, If management could turn around the business in next couple of years then it will give very good returns. Otherwise downside from here is very limited.
Disclaimer: This blog does not take any responsibility of your profit/loss
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