The markets are likely to open on a weak note today taking cues from Asian indices
which are trading close to 2% lower. Traders are advised to
assume long position from lower supports of 5880 and 5840
levels for upside targets of 5900 and 5965 levels with a final
stop loss placed at 5800 levels.Watch for the later half of the trade and this we believe will be the last chance for Sensex to cross 20,000 in the coming days. This time if the Sensex might even see the level of 17,250.
The total market open interesthas crossed over Rs.1 lakh crores. On the option front Nifty5900 and 6000 call options have seen fresh writing while 5500
put option seen closure of short position indicating the market
likely to slip further in the near term
FII Gross purchases Rs 5113 Cr, Gross sales Rs 4161 Cr, Net Buyers Rs 952 Cr.
MF Gross Purchases Rs 1185 Cr, Gross Sales Rs 702 Cr, Net Buyers Rs 483 Cr
We recommend a Collar strategy:
o Buy One Hindalco Nov fut @ 213-215
o Buy One Hindalco Nov 210 PA @ 6.50-7.50
o Sell One Hindalco Nov 235 CA @ 5.50-6.50
o BEP: 215
o Investment: Rs.1,60,000 (Approx)
o Time Frame: 6-8 days
DLF Buy 940-945 sl 935 for target 978-980 1-2 Days
SREI Infrastructure(RS.200.30) stock is eyeing 300 levels.
Time for buying or exit ?? Only paid clients