"Indices have positive week on week, and mostly followed the global cues and trends as predicted. During the week the volatility brought the much needed correction cum consolidation with support emerging at 50 DSMA. US markets have closed positive and Asian markets have opened positive shall give the phillip to our markets too in the opening trade.
Shorts opened up once the indices touched 4200 on nifty and traded around the level for some time and when could not clear the 20 DSMA on friday. Nifty futures ended the day with 28 point discount which is a cushioning and lends support for the markets in the immediate short term. ICICI IPO is opening up on 19th and closes on 22nd, which absorbs the short term liquidity from the secondary markets. Markets shall be volatile for some more time and shall trade in a range, before making next major move.
The day's range for Nifty shall be 4100 (Support) and 4250 (Resistance); Sensex shall be 13950 (Support) and 14400 (Resistance)
6 comments:
Is it worthwhile to hold on to 4300 call (June Expiry) bought at an average price of 40??
better sell the 4300 call at current price since nifty might not clear last month settlemnt figure of 4296 by this settlement and book loss
one can go long 4100 call of this month or next month for recovering the loss
Going long on 4100 puts (june expiry).....will this be a good idea at the current levels???
With Money chasing Primary market IPO's going short on Nifty seems to be a good idea at this moment. Wht do u think sir?
going long on 4100 put (naked) in this series is worth it, if one has a portfolio of Rs.2 lakhs, as a hedge. otherwise, if one has a bearish view on the nifty, can construct bear spread on rallies.
one can go short on nifty for intra day trading with a stop loss above 18th high( i.e., 4179.45 on june futures) margin requirement on one lot nifty initially would be Rs.27000/- (approx)
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