BUY ICICIBANK 410 CALL @ 2.8 TGT 3.8/5
BUY SRF 2300 PUT @ 12 TGT 17/22
Nifty continued to trend higher. The
Bulls kept the momentum going for market as it pushed the index above 11500 in
trade on Monday but profit booking at higher levels pulled the index lower
towards 11400 but before the closing bulls managed to close nifty above 11450.
FII inflows and firm global cues supported the market.
The index formed a bullish candle on the
daily scale and needs to hold above 11450 to extend gains towards 11550 , and
then 11575 -11600 zone. Overall setup and momentum is positive and a hold
of recent zones could extend rally, while support exists at 11425 and then 11400
levels. It has been making higher top and higher bottom formation and
supports are gradually shifting higher with medium term support at 11350.
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Resistance: 11550, 11600
Support: 11425, 11350
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