Markets are likely to open with a bang and likely to consolidate as the day progress. We are extremely bullish only above 20k.
Nifty Nov futures discount of 33.80 points converts into a
premium of 10.15 points. Futures shed 9 lakh shares in
open interest.
Nifty 5 600 put and5900 call have added 4 and 3.3 lakh shares
in open interestrespectively. The market is expected to open on positive note
today; traders are advised to assume long positions if Nifty
holds 5700 levels for upside targets of 5740 and 5780 levels.
Alternatively, they can assume long positions from the lower
supports of 5670 and 5650 levels.
Fed meeting on tuesday and wednesday is likely to set the trend for the US markets. Markets are expecting a 25 basis point cut. We think this is unlikely
Results today : ABG Shipyard,Bank Of India,Gitanjali, First Source,Hanung, HDFC, Hinduja TMT, M&M,Voltas, Titan, Time Techno,Vishal Retail
We have a Cautious ly Bullish view on RPL. We recommend a Protective Put strategy:
o Buy One RPL Nov Fut @ 199 - 201
o Buy One RPL Nov 200 PA @ 9.50 – 10.50
o BEP: 210
o Investment: Rs.2,00,000 (Approx)
o Time Frame: 8-10 days
SBI Buy Above 2100 sl 2070 t1 2155, t22175 1-2 Days
WE are positive on IT sector too
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