The Nifty opened weak after strong sell off on US Indices.
The Nifty opened weak after strong sell off on US Indices.
Weakness in oil is likely to cushion the sell off as foreign flows stalls after strong market rally.
The Nifty reacted to global cues, however strong macro data should see return of flows as commodities market weakens.
We are suggesting 2 buy/sell calls as under for next 3 days:
1) Buy BPCL @ Rs 580, stop loss Rs 570, target Rs 601
2) Buy HPCL @ Rs 398, stop loss Rs 389, target Rs 412
3) Sell Reliance Infrastructure @ Rs 743, stop loss Rs 758, target Rs 715
4) Sell Voltas @ Rs 192, stop loss Rs 198, target Rs 178
We are also carrying the 2 pairs suggested yesterday with minor increase in stop losses:
Longs:
1) Buy HDFC @ Rs 1089, stop loss, Rs 1049, target Rs 1135
2) Buy Shriram Transport Finance Company @ Rs 913, stop loss Rs 875, target Rs 943
3) Sell Mahindra & Mahindra Financial Services @ Rs 235, stop loss Rs 240, target Rs 225
4) Sell LIC Housing Finance@ Rs 288, stop loss Rs 294, target Rs 277
We have closed our option calendar spread which ended @ Rs 201 & which hit a high of Rs 211. Total return from the strategy for 1 day was between 12-17 per cent.
Sign Up with Google
RECOMMENDED FOR YOU
POPULAR