NIFTY DAILY BASED :RESI.-4815-4997-5180-5360 SUPORT-4635-4460-4295
NIFTY WEEKLY BASED-RESI-4790-5180-5573 SUPPORT-4395-4020
NIFTY MONTHLY BASED:RESI-4956-5423 SUPPORT-4491--3925
Market is on a deciding level... 4710 - 4720 ....
Break of 4710 and trade below this will be a highly alert signal....
On the downside after break of 4710 I see a minor support at 4630 break of this take can take Nifty to 4400 in near term
On the upside we find a resistance at 4863 break of this can take to 4950
Trading Strategy --- Not necessary to trade everyday to be safe better avoid the day, because tomorrow may take any side. In both the cases (buy or sell) you can be trapped, if playing either Hedge it
Pick No 1 - Suzlon (CMP 247.45) --- Wait for the market to stable first market, and then look to buy around 244 - 245.. final stop loss and target only to clients.
Pick No 2 - Hindustan Construction (CMP 147.55) --- Wait for the market to stable first market, and then look to buy around 145 - 146.. final stop loss and target only to clients.
Indian Markets continued the slide given the weak global markets and lack of retail participation and We expect a bounce back today after an initial slide.Nifty March
Futures have witnessed addition of fresh short positions. March
Futures added 14 lakh shares in open interest along with a
significant increase in discount from 17.30 points to 45.35 points.
On the Options front, both Call and Put options witnessed fresh
buying keeping the direction undetermined. However, Nifty 4700
Put and Call options have seen highest addition of open interest
at 4.65 and 4.72 lakh shares respectively along with an increase
in implied volatility
We have a Volatile view on Nifty; we recommend a Long Straddle strategy
o Buy One Nifty Mar 4700 CE @ 210 – 215
o Buy One Nifty Mar 4700 PE @ 190-195
o UBEP: 5110; LBEP: 4290; SL: 250 (total premium)
o Investment: Rs. 20500
o Time Frame: Expiry
Stock in Action -
1.) ICICI Bank: ICICI bank Feb Futures witnessed closure of long position and fresh build up of short position in the
last trading session. The stock had seen 2.29 percent addition in open interest with cost of carry turned negative to
4.90 percent from 3.28 percent. Short positions can be assumed in the stock at 895-902 levels with a stop loss
placed at above 915 for targets of 870 and 850 levels.
2.) SBIN: The stock shed -2.83 percent in open interest along with a decrease in cost of carry from 7.76 percent to -
0.94 percent indicating closure of long positions. Short position can be assumed in the stock below 1840 levels for
targets of 1800 and 1770 levels with final stop loss placed at 1862 levels.
3.) Rel Capital: Rel Capital Futures have witnessed 7.31 percent decrease in open interest along with a decrease in
cost of carry from 6.37percent to -8.37 percent indicating closure of long positions and fresh build up of short
positions. Short positions in the stock can be assumed at 1410-1425 levels for targets of 1350 and 1310 levels with a
final stop loss placed above 1450 levels
4.) RPower: RPower has witnessed fresh build up of short positions in Friday’s trade. The stock has seen 19.15
percent addition in open interest with a steep fall in cost of carry from -5.74 percent to -44.16 percent. The stock
made it life time low at 330 levels in the last trading session. Short position can be assumed in stock below 330
levels for targets of 315 and 305 levels with a final stop loss placed above 342 levels.
5) REL: The stock shed 0.45 percent in open interest and fell by 13 percent in last trading session suggesting
closure of long positions in the stock. Short positions can be assumed in stock if it doesn’t hold 1250 levels for
downside targets of 1200 and 1180 levels with final stop loss placed at 1280 levels.
6) Maruti: The stock witnessed fresh build up of long positions in Friday’s trade. The stock has seen 3.62 percent
addition in open interest with cost of carry remained flat. Long position can be assumed in the stock on correction at
895-902 levels for upside targets of 920 and 935 levels with a final stop loss placed at 880 levels.
7) Bajaj Auto: Bajaj Auto had witnessed fresh accumulation of short positions in Friday’s trading session. The stock
has seen 9.40 percent addition in open interest with decrease in cost of carry from 0.47 percent to -3.77 percent.
Short position can be assumed in stock at 1890-1910 levels for downside targets of 1830 and 1800 levels with final
stop loss placed above 1950 levels.
8) Sterlite: STER has seen fresh build up of long position in last trading session. The stock had seen 5.96 percent
addition in open interest with cost of carry decreased marginally to 1.57 percent. Long position can be assumed in
stock at 730-740 for targets of 765 and 780 levels with final stop loss placed at 715 levels.