- FII sold in index futures, stock futures and cash but bought small quantity in index options (Net Sold 1236 Crore)
- US markets closed in Positive.
- Global cues are Positive.
- SGX nifty is Positive as of now.
- Most Active December Nifty Call Option: 5200 and 5100.
- Most Active December Nifty Put Options: 5100 and 5000.
Finally the "Dollar Index", as long as it stays above 75.45 & reverses up, bears will rejoice. After the 3rd wave, this index has gyrated in a range for 2 days which should explain the choppy moves. Once this range of 75.40 to 76.40 is resolved, then we can see some direction to equities.
NIFTY Technical
Current Spot: 5112.00
Pivot: 5116.30
3DEMA: 5115
7DEMA: 5103
20DEMA: 5055
RSI (7 days): 55.65
Supports: 5086 - 5061
Resistance: 5142 - 5172
Target Nifty
Buy Nifty above 5116 - 5128 - 5140 - 5149 - 5158 - 5180 SL - 5101
Sell Nifty below 5085 - 5075 - 5065 - 5072 - 5059 - 5050 SL - 5112
Stock Ideas for the Day
Reliance Industries: Buy above 1072 for targets of 1078, 1086, 1093 SL of 1062
Reliance Industries: Sell below 1062 for targets of 1054, 1046, 1042 SL of 1072
BPCL: Buy above 636 for targets of 651, 665 SL of 616 (2-3 Days)
3i Infotech: Buy above 89 for targets of 92, 96 SL of 82 (2-3 Days)
Wipro: Buy above 660 for targets of 668, 673 SL of 653
Positional Call
Balaji Telefilms: Buy above 58 for targets of 64, 68 SL of 55 (1 Month)
Liberty Shoes Ltd: Buy above 101 for targets of 120, 135 SL of 90 (1 Month)
Goldstone Technologies Ltd (Short term target - 50)
The first rule is not to lose. The second rule is not to forget the first rule - Warren Buffett
Use strict STOP LOSS in each and every trade in this kind of volatile market and Trade at your own risk.
Thanks and Regards
S&P Wealth Creators
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Disclaimer
The calls given here are My Personal views, trading or investing in stocks is a high risk activity. Any action you choose to take in the markets is totally your own responsibility. S&P Wealth Creators will not be liable for any, direct or indirect, consequential or incidental damages or loss arising out of the use of this information.
Investors should be cautious about any and all stock recommendations and should consider the source of any advice on stock selection. Various factors, including personal or corporate ownership, may influence or factor into an expert’s stock analysis or opinion.
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