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OUR BTST - BANK NIFTY, POWERGRID, GAIL,
The market is expected to open on a positive note today;
traders are advised to assume long positions if Nifty sustains
above 5995 levels else from lower supports of 5940 for upside
targets of 6050 and 6125 levels.
FII Gross purchases Rs 3974 Cr, Gross sales Rs 3954 Cr, Net Buyers Rs 20 Cr.
MF Gross Purchases Rs 1028 Cr, Gross Sales Rs 1062 Cr, Net Sellers Rs 34 Cr
Nifty December futures witnessed long accumulation; it added 6 lakh shares in open
interest on the back of premium increasing significantly to 37.15
points. The overall market has seen addition of 2.84 percent of
open interest on the back of increasing cost of carry indicating
positive sentiments prevailing. On the options front call options
have seen fresh buying while put options have witnessed
shorting indicating limited downsides form the current levels.
We have a moderately bullish view on IDBI. We recommend a bull call spread strategy:
o Buy One IDBI Dec 180 CA @ 9.50 – 10.50
o Sell One IDBI Dec 190 CA @ 6.50 – 7.50
o BEP: 183
o Investment: Rs.1,30,000 (Approx)
o Time Frame: 5-6 Days
IDBI Buy at 175 sl 172.10 for target 183-185 for 5-6 Days
Watch for big moves from MTNL and Alok Industries soon
RED HOT STOCK POWER GRID,INDUSIND BANK ,DCB, GAIL NTPC,RNRL
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