BUY TATASTEEL 390 OCT CALL @ 12 TGT 15
BUY SBIN 260 OCT PUT @ 4.3 TGT 5.3
Bulls are
back in action & successfully closed nifty above 11550 mark on the September
F&O expiry day. The Sensex added as much as 564 points to touch 39158
at the day's strongest level, before giving up some of those gains by the end
of the session. The Nifty climbed to as high as 11610, up 170 points from the
previous close. Across-the-board buying and hopes of US-China trade truce
after US President Donald Trump said on Wednesday a deal to end a nearly
15-month trade war with China “could happen sooner”, boosted market sentiment.
We remain
cautious on the markets as it is hovering around its peak levels and some
consolidation can be expected in the near term. From medium to long-term
perspective, outcome of RBI monetary policy and revival in corporate earnings
will be crucial, as it is likely to dictate further market trend. On the global
front, geo-political developments between US-Iran would be on investor’s radar,
as well as any further escalation of US-China trade war would have an adverse
impact on overall markets and economy. Overall support for Nifty is coming near
11450-11375 zone. Any decisive break above 11600 zone will strongly make bulls
active again.
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Resistance: 11600, 11650, 11700
Support: 11500, 11450, 11400
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