Huge buying by FIIs suggest NIFTY should move up. Monsoon news, Modi Govenment's two years' completion advertisement could add spice.
If NIFTY crosses 8270-75 during opening hour then it is further indication of sharp up move. Maybe traders and FIIs are thinking Rajan would cut rate in this policy, which would be the last before Government decides his fate as RBI Governor for next three years.
But till then one can think of profit booking.
OI table suggest some weakness at higher level.
Lot of additions at 8300 and 8400 CALL contracts suggest NIFTY would find it difficult to cross these levels.
One can sell 8300 and 8400 CALLs.
For 8300 CALL 96-87 is good selling range with SL 106 with targets T1 77/T2 52
Generally Selling 8400 CALLs around Rs.55-53/- would be more safe.
Other trades for tomorrow would be as follows:
1.) Buy Arvind 300 PUT around 8.50-9.50 and SL 5.50. Target 12.25
2.) Buy TCS 2600 PUT around 45-47 SL 35/-Target 74.
It is at the verge of RSI breakout, and if it happens so, taregt of 74 should be achieved in couple of days.
3.)Buy BHARTIARTL 350 PUT between 7.50-8.00
Target: 9.50
SL: 5.50
Disclaimer: This blog does not take responsibility of your profit/loss
If NIFTY crosses 8270-75 during opening hour then it is further indication of sharp up move. Maybe traders and FIIs are thinking Rajan would cut rate in this policy, which would be the last before Government decides his fate as RBI Governor for next three years.
But till then one can think of profit booking.
OI table suggest some weakness at higher level.
One can sell 8300 and 8400 CALLs.
For 8300 CALL 96-87 is good selling range with SL 106 with targets T1 77/T2 52
Generally Selling 8400 CALLs around Rs.55-53/- would be more safe.
Other trades for tomorrow would be as follows:
1.) Buy Arvind 300 PUT around 8.50-9.50 and SL 5.50. Target 12.25
2.) Buy TCS 2600 PUT around 45-47 SL 35/-Target 74.
It is at the verge of RSI breakout, and if it happens so, taregt of 74 should be achieved in couple of days.
Target: 9.50
SL: 5.50
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