BUY STER OCT 95 PUT @2.20 TG 4.40,6.90 SL 1.20
BUY RELIANCE 880 CALL @ 10 TG 15,19 SL 4
The call given of
ITC achieved first TG. The call of
DISH TV achieved first TG and ONGC
achieved all targets.
NIFTY OUTLOOK FOR TOMORROW
NIFTY closed
marginally lower on settlement day Thursday but the series gone by was quite
strong due to consistent inflow of foreign money after Federal Reserve launched
a third round of quantitative easing and European Central Bank’s unlimited bond
buying plan. The market has been in a consolidation mode moving in a
tight range of 5650-5700 for the fourth consecutive session today after rising
over 2 percent last Friday. We feel the rally will continue and the market will
move towards 5900 level in the October series..............
A fall below 5670 – 5650 would suggest fresh
weakness coming in. It is now caught up in a narrow range between 5635 and
5700. However, unless we see it clearing the upper supply zone between 5685 and
5740, we would not really see any significant upswing from here. The range
between 5685 and 5740 continues to be a formidable supply zone and it does have
the potential to halt further upward march by the index.
RESISTANCE:5670, 5700, 5740
SUPPORT :5630, 5610, 5590
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