Nifty closed the day at 4,858.60 down by 11.45 points. Nifty February Future closed at 4,866.1, premium of 7.50 points.
- FII bought in stock futures and cash but sold in index futures and index options (Net sold 261.6 Crore)
- US market ended in Green.
- Global cues are flat to Positive.
- SGX nifty is Positive as of now.
- Most Active February Nifty Call Option: 4800 and 4900.
- Most Active February Nifty Put Options: 4900 and 4800.
Today being expiry a break above 4885 will lead to test of 4930-4951 and a break below 4833 will lead to a test of 4805-4785. Follow up buying or selling beyond these levels will give a 100 point move whichever way the market breaks out.
Supports: 4840 is immediate. Below that 4808/00-4785. Positional supports lies at 4750-4715/10.
Resistances: 4890 stays as it is. Above that 4910/25 possible. Further breakout will bring 4960-4985, which can be a reversal points for the down move.
Strategy of holding hedged longs with a stop of 4772 continues.
Current Spot: 4858.60
RSI (7 days): 49.67
Supports: 4837 - 4816
Resistance: 4880 - 4902
Buy Nifty above 4866 - 4881 - 4902 - 4923 SL - 4860
Sell Nifty below 4855 - 4844 - 4823 - 4802 SL - 4866
Option & Futures Call
Buy Bharti Airtel 280CE (March Expiry) at 12 for targets of 15, 18 SL - 9
Stock Ideas for the Day
Reliance Industries: Buy above 980 for targets of 989, 999, 1013 SL of 975
Reliance Industries: Sell below 974 for targets of 966, 953, 943 SL of 979
Rec: Buy above 227 for targets of 231, 237 SL of 224
Balrampur Chini: Buy above 106.5 for targets of 108, 112 SL of 103
Reliance Industries: Buy above 979 for targets of 1040 SL of 964 (One Week)
IFCI: Buy above 48.6 for targets of 54 SL of 46.4 (One Week)
Investors have very short memories - Roman Abramovich
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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S&P Wealth Creators
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