26 March 2018


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.
More about intraday tips on Google +
Resistance: 10200, 10250, 10300
Support: 10100, 10050, 10000

No comments:

Post a Comment