Nifty closed the day at 5017 up by 94.7 points. Nifty February Future closed at 5034, premium of 17 points.
- FII bought in index futures, index options, stock futures and cash (Net buy 4152.8 Crore)
- US market ended in Flat.
- 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 5000.
Supports: 4975-4960 is the support area as of now. Below that up to 4920-4880-4840, but in any case this a impulse move, it should go below 4960 zone
Resistances: 5050/60 remains intact. Above that 5095-5150-5220 positionally possible. But would like to book some profit from long around 5060 zone and wait for the proper signals.
Current Spot: 5017.00
RSI (7 days): 74.87
Supports: 4981 - 4944
Resistance: 5041 - 5066
Buy Nifty above 5027 - 5047 - 5073 - 5114 SL - 5006
Sell Nifty below 5001 - 4984 - 4943 - 4917 SL - 5022
Option & Futures Call
Buy Nifty 5000CE at 112 for targets of 122, 134 SL 104.9
Stock Ideas for the Day
Reliance Industries: Buy above 992 for targets of 997, 1004, 1012 SL of 985
Reliance Industries: Sell below 978 for targets of 974, 970, 958 SL of 991
Exide Industries: Buy above 108 for targets of 110, 112 SL of 105 (1-2 Days)
Krbl: Buy above 25.25 for targets of 25.8, 26.5 SL of 24.75
Bhel: Buy above 2434 for targets of 2459, 2496 SL of 2407
Elecon: Buy above 78 for targets of 86 SL of 73 (One Month)
LT Foods: Buy above 60 for targets of 64 SL of 58 (One Week)
The key to making money in stocks is not to get scared out of them - Peter Lynch
Use strict STOP LOSS in each and every trade in this kind of volatile market and Trade at your own risk.
Thanks and Regards
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