BUY PNB 95 CALL @ 2.5 TGT 3.5/5
BUY NIFTY 11600 PUT @ 50 TGT 64/80
Market skewed in favor of the bears. The Nifty slipped
below the 11700 mark in today’s trade. Nifty ended lower on Monday amid fresh trade
worries between US-China. The Sensex was down 362 points at 38600, while Nifty
was down 114 points at 11598. Nifty has started the day from 11605 made a high of 11632 and low of 11571.
The Nifty
future has slipped below 11600 & closed at 11598. Going into Tuesday trade,
the market is poised in a tricky situation. We might see modestly positive
to flat opening on Tuesday. Shorts are being added to the system given the fact
that the support level 11550 remains in close vicinity at 11575, the market may
seek to take some respite from the current spate of weakness. On the
other hand, the 11700 and 11750 levels will pose stiff resistance on the
upside. Supports will come in at 11550 and 11500 levels. We recommend
avoiding shorts and keeping overall exposures moderate while keeping a cautious
view on the market.More about intraday tips on Google +
Resistance: 11700, 11750,
11800
Support: 11550,
11525, 11500
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