Buy Oil India, Sell Tata Power Today: Sanjeev Bhasin
The BSE Sensex staged a sharp rally in the last hour of trade on Tuesday, which wiped out the "bears". The 50-share Nifty ended well above the key 7,600 level. As most investors on the Street were in caution mode, weighed down by rising oil prices and global cues, the sharp rally caught most unawares.
The US Federal Reserve will meet later today to announce another pull back in bond buying, so expect consolidation in the markets.
The noteworthy point is the break in correlation of oil & gold prices which is going on currently & clearly depicts the eminent weakness in gold as an asset class.
For today, these two pair trades in cement & energy may do well.
Trading calls for next three days:
Longs:
1. Buy Oil India: 603, stop loss 590, target 633
2. Buy Ultra Tech Cement: 2795, stop loss 2740, target 2900
Shorts:
1. Sell Tata Power: 107, stop loss 110, target 102
2. Sell ACC: 1500, stop loss 1530, target 1460
Option strategy:
Tuesday's buy on 7600 call @ 55-60 hit the target of 106 intra-day leading to returns of 90 per cent. For today, short straddle strategy on 7600 Nifty Option may do well.
Sell the 7600 call @ 105
Sell the 7600 put @ 45
Look for fall in premiums as we get closer to expiry next Thursday - Target in 3 days 100.
-
Indians Are Travelling, But Not Every Journey Is A Holiday | The Week In Whys
Pilgrims, patients and working women are the real travellers, and the system hasn't quite caught up with them.
-
Getting To Work Costs Women More | The Reason Why
It is not just about women paying more than men. It is about women paying much more in cities than in villages.
-
AI Bias In Investing Cannot Be Eliminated, But It Can Be Governed
Framing is a particularly important example as identical financial information presented in terms of gains rather than losses can lead an LLM to reach a different assessment.
-
Joining The Dots | Dark Skies, Steady Diya: Why Hope Holds This Diwali
With war, a weak rupee and foreign outflows weighing on sentiment, policymakers at the NDTV World Summit and market veterans at NDTV Profit Ignite: Diwali Edition offered the same advice: stay invested and filter out the noise.
-
The Curious Case of Equitas Small Finance Bank And A CEO Who Quit For Stock
PN Vasudevan believes persistent investor concerns over a perceived conflict of interest had become a governance overhang on Equitas Small Finance Bank's stock, even as the lender improved profitability and asset quality.
-
Talking Points This Week: AI Cash Burn, A Tiger Comeback And An India That Still Finds Its Own Path
India is not immune to higher oil or tighter global liquidity, yet its earnings base is broader, its domestic policy levers are still available.
-
Foreign Investors Own Half Of HDFC Bank and ICICI Bank. An LTCG Cut Could Matter Most Here
Foreign portfolio investors have US$115 billion parked in HDFC Bank, ICICI Bank. If the government cuts long-term capital gains tax, Jefferies says returning foreign money could land here first.
-
'Never Seen This Level Of Negativity': Sandeep Tandon Says The Next Rally May Be Closer Than You Think
Veteran investor Sandeep Tandon says foreign selling is easing, large-caps are due a comeback and mid-caps are crowded, while he turns positive on gold, power and pharma this Diwali.
-
Indians Stay With Family, Not In Hotels | The Reason Why
India still lacks enough clean, reliable and affordable hotels for budget-conscious travellers.
-
The Economic Imperative: Analysing The Material Driving Force Behind India-Canada Strategic Reset
This economic complementarity is further reinforced by deep institutional investment ties and talent mobility, which form the bedrock of the bilateral framework.
