DLF 160 PUT @ 3.5 TGT 5/6.5
RELIANCE 1440 CALL @ 25 TGT 29/33
Market ended lower but
off day's low on the back of buying seen in the last hour of trade. The Sensex
was down 35 points at 39031, while Nifty was down 6 points at 11748. Market
will be shut on Wednesday to mark Maharashtra Day.
Markets are expected to
remain volatile this week. Crude oil price fluctuations, rupee movements,
corporate earnings and the Federal Reserve's decision on interest
rate will drive Indian markets. The index formed a bullish candle on the daily
scale and needs to hold above 11725 to extend gains towards 11775, and then 11,800-11850
zone. Overall setup and momentum is positive and a hold of recent zones
could extend rally, while support exists at 11675 and then 11650
levels. It has been making higher top and higher bottom formation and
supports are gradually shifting higher with medium term support at 11600.
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Resistance: 11775, 11800
Support: 11675, 11650
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