21 June 2018

SAIL OPTION & RELINFRA FUTURE CALL FOR 22 JUN 2018

“BUY 1 LOT SAIL 80 PUT @ .75 TGT .95/1.25”
”BUY RELINFRA FUTURE ABOVE 426 TGT 432/441 SL 414”
Following a 400-points swing in the last two days, bulls once again lost the ground. The sensex came down more than 100 points on Thursday as the stock market stayed volatile. The sensex lost 115 points to close at 35432, while the Nifty lost 0.30% to finish under the 10750-mark. The Street has traded choppy since the turn of week after trade war between US and China escalated. Nifty future has started from 10799 made a high of 10805 and low of 10716 & finally closed at 10737, total 89 points nifty lost in intraday.
The Nifty future hold on to its crucial support placed at 10700 levels. The Nifty future has slipped below support level 10750 & closed at 10737. Going into Friday trade, the market is poised in a tricky situation. We might see modestly positive to flat opening on Friday. Shorts are being added to the system given the fact that the support level 10520 remains in close vicinity at 10650, the market may seek to take some respite from the current spate of weakness.  On the other hand, the 10800 and 10850 levels will pose stiff resistance on the upside. Supports will come in at 10675 and 10635 levels. We recommend avoiding shorts and keeping overall exposures moderate while keeping a cautious view on the market. 
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Resistance: 10850, 10875, 10900
Support: 10700, 10675, 10650

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