BUY DLF 210 CALL @ 2.2 TGT 2.8/3.9
BUY NIFTY 10200 CALL @ 34 TGT 49/66 SL 16
Expiry week kicked on robust note and gained more than a 1%. Thesensex
& nifty trimmed morning lossses to end sharply higher after reports
suggested that the United States and China have quietly started negotiations to
improve US access to Chinese markets, thereby easing fears of a trade war
between the two economic giants. Bargain
hunting combined with short covering helped the index move higher. Market
closed sharply higher as the Sensex was up 469 points at 33066 and the
Nifty gained 132 points at 10130.
It's normal to have such swings during the F&O expiry week, and thus
we should prefer hedging positions. Also, keep a close eye on global cues, as
they're largely dictating our market trend at present. In the week ahead, the
fiscal deficit data to be released on Wednesday. Also, the expiry of the
current month futures and options contracts are due on Wednesday and
positions will be rolled over to next month. For the coming session, immediate resistance
would be seen at 10200-10300 and a sustainable move beyond this would extend
this rally. On the flipside, 10100-10000 are likely to act as strong support
levels unless this zone is violated decisively, the bulls need not worry.
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Resistance: 10200, 10250,
10300
Support: 10100,
10050, 10000
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