Buy Nifty 5800 call @ 30 and Buy Nifty 5700 put @ 20 Book when either of them reach 70.
Going by cycle studies, we are not too hopeful for a sustainable rally even after a favorable Union Budget in the next few months. Thus, one should rather be very vigilant in protecting portfolio values and especially take special care for short and medium term long positions.
NIFTY OUTLOOK FOR TOMORROW
Nifty dropped 93 points to 5,761.35, led by heavy fall in oil & gas, capital goods, auto and banks. To expect a recovery, monitor the levels between 5860 and 5875—this is the key supply zone that might come in the way of any recovery nipping it in its bud. Any failure to cross this zone on a bounce back is best regarded as a sign of fresh wave selling waiting to happen. To see any serious recovery, we need to see the Nifty getting past 5900 ...
Nifty dropped 93 points to 5,761.35, led by heavy fall in oil & gas, capital goods, auto and banks. To expect a recovery, monitor the levels between 5860 and 5875—this is the key supply zone that might come in the way of any recovery nipping it in its bud. Any failure to cross this zone on a bounce back is best regarded as a sign of fresh wave selling waiting to happen. To see any serious recovery, we need to see the Nifty getting past 5900 ...
Going by cycle studies, we are not too hopeful for a sustainable rally even after a favorable Union Budget in the next few months. Thus, one should rather be very vigilant in protecting portfolio values and especially take special care for short and medium term long positions.
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RESISTANCE:5830 5860, 5880
SUPPORT: 5820,
5800, 5790
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