- FII sold in index futures, and stock futures but bought in index options and cash (Net sell 1117 Crore)
- US markets closed just flat to Positive.
- Global cues are flat to Positive.
- SGX nifty is just flat to Positive as of now.
- Most Active January Nifty Call Option: 5300 and 5400.
- Most Active January Nifty Put Options: 5200 and 5300.
Supports: Sustaining below 5260 can extend the correction little more towards 5235/40 zone, which is arguably one the most crucial place. Holding that nifty can spin higher again. A fall below the above level will take to 5200-5140 really very fast (most important place for positional long/short).
Resistances: 5275-85 is big, above that 5330/35 again possible as discussed.
Current Spot: 5263.10
RSI (7 days): 70.85
Supports: 5239 - 5215
Resistance: 5293 - 5322
Buy Nifty above 5263 - 5272 - 5281 - 5293 SL - 5246
Sell Nifty below 5246 - 5237 - 5228 - 5215 SL - 5263
Stock Ideas for the Day
RIL-Looks set for a big move..?
In daily close chart- It has broken out. In day/week candle chart, it is at the channel resistance.
Since Post Election results of last year, this stock has been consolidating. Either breaks out of 1120 & 1145 to much higher levels or correct towards 1025; then launch into big move up..
Reliance Industries: Buy above 1106 for targets of 1120, 1136, 1157 SL of 1098Reliance Industries: Sell below 1098 for targets of 1088, 1079, 1062 SL of 1106
Shree Renuka Sugar: Buy above 243 for targets of 251, 260 SL of 232 (1-2 Days)
Opto Circuit: Buy above 241 for targets of 246, 251 SL of 233
JP Hydro: Buy above 84.2 for targets of 86, 88.5 SL of 82.4 (2-3 Days)
GTL Infra: Buy above 38.75 for targets of 44 SL of 78 (2 Weeks)
Bank of Rajasthan: Buy above 77.5 for targets of 89 SL of 72 (3 Weeks)
Voltamp Transformers: Buy above 935 for targets of 1087 SL of 890 (1 Week)
I like to buy things I can understand. I do a lot of research on things - Warren Buffett
Use strict STOP LOSS in each and every trade in this kind of volatile market and Trade at your own risk.
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