18 January 2013

MARKET TREND AND FUTURE OPTION TIPS FOR MONDAY

Buy Tatasteel 400 put @ 2.5 tg 4,6.20 sl 1.25
Buy Bhel future above 227 tg 231,236 sl 224.20
NIFTY OUTLOOK FOR TOMORROW
Next batch of Q3 December 2012 results will set the trend for the equity market in the near term. Nifty rose and finally ended on  6,064 today. In major earnings today, ITC and HDFC Bank reported strong growth numbers. Wipro’s third quarter numbers were slightly ahead of analyst estimates, but the mute revenue guidance for the March quarter prompted investors to book profits. However, we still need to monitor the Nifty’s ability to take out the 6050-mark decisively...
While the fresh put writing for 6000 and lower strike prices coupled with short covering in calls of strikes ranging between 6100 and 6300 clearly show that the bulls have got back the gumption to push things higher. The index must get past both 6050 and 6070 levels and head for the next supply zone between 6080 and 6100. Secondly, even in the event of any profit taking it should not fall below 6020 major support level. If the above conditions are met then it shows clear strength and we can expect further upswing.

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RESISTANCE:6040 6060, 6080
SUPPORT      :6000, 5980, 5920

5 comments:

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  2. Thanks for sharing the information. That’s a awesome suggestion you posted. I found the post very useful

    as well as interesting. I will come back to read some more. free Future trading Tips

    ReplyDelete
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    ReplyDelete
  4. Today share price of nifty open at 6,157.25 with the gain of 101.10 (1.67%) point.
    please suggest some target tips for this share.
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    Replies
    1. For tips you have to fill up the form on the right hand side of the page

      Delete