Whether the Market will Go Up or GO Down, Now, These Commentary is only for our subscribers
The markets are likely to open on a flat to negative note today
taking cues from the weak US markets. Traders are advised to
adopt buy at dips strategy until Nifty remains above 5800 levels.
Nifty December
futures has witnessed addition of 3 lakh shares in open interest
on the back of discount converting into a significant premium of
6.15 points. On the options front put options have witnessed
fresh writing implying limited downsides from the current levels.
Watch out for TTML,WWIL,Ashok Leyland in down market
Indian Markets are likely to take a bigger dip today but only the large caps will take the hit. Still there is some more steam in the cash stocks
RJ's Midday Multimedia(RS.52.85) is back in the limelight. Watch for speculative gains
We have a moderately bullish view on Power Grid. We recommend a Bull Call Spread strategy:
o Buy One Power Grid Nov 160 CA @ 9 – 10
o Sell One Power Grid Nov 170 CA @ 6.50 – 7.50
o BEP: 162.50
o Tgt: 170
o Investment: Rs.1,60,000 (Approx)
o Time Frame: 5-6 days
Have a great trading day