The markets are likely to open on a flat note
today. Traders are advised to trade long in the market in two
ranges of 5700-5800 and 5840-5900 levels. Close long
positions if Nifty fa ils to cross and sustain the crucial resistance
of 5840 levels.
Nifty December futures have
witnessed addition of 8 lakh shares in open interest on the back
of premium converting into a discount. On the options front put
options have witnessed fresh buying while call options have
witnessed fresh writing implying high caution prevailing at the
current levels
There are news abt Goverment going to hike STT in the market
Idfc looks strong buy
We have a moderately bullish view on IDBI. We recommend a Bull Call Spread strategy:
o Buy One IDBI Nov 170 CA @ 8.50 – 9.50
o Sell One IDBI Nov 180 CA @ 6.50 – 7.50
o BEP: 172
o Tgt: 180
o Investment: Rs.1,20,000 (Approx)
Parsvnath(RS.353.95) is undervalued. Value buying is expected soon. Watch for a target of 400
Reliance Buy 2720-2740 sl 2680 for target 2850-2855 3-4 Days
o Time Frame: 5-6 days
Online calls for Subscriber's Only