OPTION CALL PUT TIPS & NIFTY OUTLOOK FOR 28 OCT 2019

!!!!HAPPY DIWALI !!!!

Bulls are back in action..!!! Market reversed all the losses to trade in the positive territory backed by gains in select bank, IT and FMCG majors such as SBI, TCS, Infosys, Hindustan Unilever and ITC. However, losses in shares of HDFC twins, Kotak Mahindra Bank and Reliance Industries are keeping the gains capped. . The Sensex was trading above 39000.-level while Nifty trading over 11600-mark. A selloff across financial, automobile and pharmaceutical stocks deepened, pulling the markets lower in afternoon deals. Tata Motors to report its financial results for the second quarter of current financial year later in the day.

Nifty remains in a structural uptrend and is expected to scale highs. We expect some volatility in the near term post with an impulsive up-move is expected. Advice buying in dips for initial target of 11675 -11750 followed by 11800 on the higher side. Downside support is seen in the range of 11500 -11435. Only a breach of 11400 will invite caution.

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Resistance: 11700, 118000

Support: 11475, 11435