Friday as expected RBI governor increased rates, market did not like that, but since there is lot of liquidity in market, one could see buying at every lower level. There are many support levels and NIFTY respected 5930 support on Friday.
Strategies recommended on Friday turned out to be useful and helped trading account to turn in to marginal green.
Last week will be driven by option table.
Only analysis of option table indicates expiry closing might not be much above 6100 and at the same time even in very adverse scenario, it will not go down below 5700. Of course this is very broad range considering only four trading sessions.
PCR is about 1,59 and is near to overbought range.
Dow was down on Friday because though Bernanke continued bond buying program Federal bank can continue support such buying only for next two weeks. American markets were looking for some more assurance from Government which did not come till end of the closing session.
In view of this one can expect gap down opening and negative sentiments mainly towards banking stocks.
Dish TV:
Dish TV is in uptrend. But now very close to ichimoku cloud, RSI is in overbought region. Normally stocks show at least one stiff downward move before further rally. This will be the right time to bet for this short possible down trend at least up to 45.
Buy Dish TV 47.5 PUT between 0.75-0.85. Target 1.85/3.2
IDFC:
This month end IDFC again reached up to 100. It would face strong resistance in the region ie 100-105. If banking stocks under-perform as anticipated, IDFC will again touch 88-89 levels in cash.
Buy IDFC 100 PUT between 2.50-2.90. look for the targets above 8/- before expiry.
If IDFC goes near 88-89 in cash this option contract will give handsome profit. If it goes below 88, next support is 84.
M & M
Finally markets do not hear anybody. Market could go up or down based on many forces and nowadays can be controlled by any single event for more than day or two.
M & M is in up trend. Good monsoon should improve tractor sell and stock could easily cross 945 in short period.
Buy M & M 900 CALL between 9-10.
Disclaimer: This blog does not take any responsibility of your profit/loss
Strategies recommended on Friday turned out to be useful and helped trading account to turn in to marginal green.
Last week will be driven by option table.
Only analysis of option table indicates expiry closing might not be much above 6100 and at the same time even in very adverse scenario, it will not go down below 5700. Of course this is very broad range considering only four trading sessions.
PCR is about 1,59 and is near to overbought range.
Dow was down on Friday because though Bernanke continued bond buying program Federal bank can continue support such buying only for next two weeks. American markets were looking for some more assurance from Government which did not come till end of the closing session.
In view of this one can expect gap down opening and negative sentiments mainly towards banking stocks.
Dish TV:
Dish TV is in uptrend. But now very close to ichimoku cloud, RSI is in overbought region. Normally stocks show at least one stiff downward move before further rally. This will be the right time to bet for this short possible down trend at least up to 45.
Buy Dish TV 47.5 PUT between 0.75-0.85. Target 1.85/3.2
IDFC:
This month end IDFC again reached up to 100. It would face strong resistance in the region ie 100-105. If banking stocks under-perform as anticipated, IDFC will again touch 88-89 levels in cash.
Buy IDFC 100 PUT between 2.50-2.90. look for the targets above 8/- before expiry.
If IDFC goes near 88-89 in cash this option contract will give handsome profit. If it goes below 88, next support is 84.
M & M
Finally markets do not hear anybody. Market could go up or down based on many forces and nowadays can be controlled by any single event for more than day or two.
M & M is in up trend. Good monsoon should improve tractor sell and stock could easily cross 945 in short period.
Buy M & M 900 CALL between 9-10.
Disclaimer: This blog does not take any responsibility of your profit/loss
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