BUY ICICIPRULI 350 CALL @ 5.5 TGT 7.5/8.5
BUY SBIN 295 CALL @ 3.6 TGT 4.6/5.8
Bulls tighten their grip on the dalal
street & took the nifty near 11200 mark. This is part of an election rally
and FII (foreign institutional investor) data has been positive. The Nifty
opened on Monday and headed towards its 26-week high of 11180 zone. Indian
markets jumped sharply today, led by gains in auto, metal, energy and pharma
stocks. The Sensex closed 382 points higher at 37054, its highest close since
September 2018, while Nifty jumped 1.2% to 11171.
The index formed a bullish candle on the
daily scale and needs to hold above 11120 to extend gains towards 11,200, and
then 11,250-11300 zone. Overall setup and momentum is positive and a hold
of recent zones could extend rally, while support exists at 11120 and then
11055 levels. It has been making higher top and higher bottom formation
and supports are gradually shifting higher with medium term support at 10995.
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Resistance: 11200, 11250
Support: 11100, 11050
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