Nifty closed the day at 4,922.30 up by 62.55 points. Nifty February Future closed at 4,935.95, premium of 13.65 points.
- FII bought in index futures, index options and cash but sold in stock futures (Net buy 2274 Crore)
- US market ended in Positive.
- Global cues are flat to Positive.
- SGX nifty is Positive as of now.
- Most Active March Nifty Call Option: 5000 and 5100.
- Most Active February Nifty Put Options: 4900 and 4800.
Nifty Daily Charts are attached as above as it can be easily interpreted that we are seeing a trendline support at 4850 levels. If that support is held and we close above 4950 for 2 days we are heading towards the 5050 and 5100 Levels.
For Tuesday trading session Long positions may be taken in support zone around 4880 with the SL of 4850, for likely target of 4950/4990.
Current Spot: 4922.30
RSI (7 days): 63.16
Supports: 4857 - 4791
Resistance: 4990 - 5058
Buy Nifty above 4936 - 4998 - 5067 - 5135 SL - 4923
Sell Nifty below 4923 - 4865 - 4798 - 4728 SL - 4936
Option & Futures Call
Buy Nifty 5000CE at 95.8 for targets of 111, 136 SL 88
Stock Ideas for the Day
Reliance Industries: Buy above 985 for targets of 991, 1006, 1020 SL of 978
Reliance Industries: Sell below 974 for targets of 968, 954, 939 SL of 983
RCF: Buy above 92.8 for targets of 94, 96.5 SL of 90
PetroNet: Buy above 74.3 for targets of 75.1, 76.5 SL of 72.9
NFL: Buy above 119.7 for targets of 122.5, 125 SL of 115
MSK Projects(India): Buy above 113.5 for targets of 122 SL of 108 (One Month)
GMR Infra: Buy above 54.8 for targets of 59 SL of 53 (One Week)
Theories are private property, but truth is common stock - Charles Caleb Colton
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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