- Nifty future sheds further means no short term trend reversal.
- Now US markets are bullish overnight.
- Global markets are bullish.
- FII data bought in cash, bought in index future but sold in stocks futures (as usual).
- SGX nifty is up.
- Shanghai Composite up & Seoul Composite up.
A view on Reliance: If crosses 2375 very strong chances of crossing 52 week high.
Current Spot: 5142.15
Supports: 5107 - 5128
Resistance: 5163 – 5185
Buy Nifty above 5150 - 5160 - 5170 - 5185 - 5200 - 5211 - 5223 SL - 5135
Sell Nifty below 5118 - 5106 - 5095 - 5080 - 5065 - 5050 - 5020 SL – 5130
Option & Futures Call
Centurytex: Buy Oct Fut around 526/528 for a target of 560 in 4/5 trading sessions. In fact you may see the target being met in today's trade itself.
LITL: Buy Oct Fut around 550/552 for a target of 580 which may materialize in next trading session.
Nagarconst: Buy Oct Fut at 164/166 and cover your position at 174. In case you are unable to square off position today then hold for just one more trading session as BTST position.
Buy Bharti 350 CA (October Expiry) @ Cmp Of 6.00
Stock Ideas for the Day
Reliance: Buy above 2240 for targets of 2250 and 2263 SL of 2232
Bharat Forge: Buy above 290 for targets of 294 and 296 SL of 287
IVRCL Infra: Buy above 421 for targets of 425 and 429 SL of 418
Escorts: Buy above 131 for targets of 133 and 136 SL of 125
TCS: Sell below 603 for targets of 600 and 596 SL of 610
Positional Call: (7-15 days)
Buy Deccan Gold Mines Ltd (Medium term target- 100)
Buy Merck Limited (Short term target- 700)
Buy Anant Raj Industires (NSE:ANANTRAJ) @ CMP 153.20, Target 180 in 1-2 Months.
Asian Granito India Limited (Short term target- 100)
Use strict STOP LOSS in each and every trade in this kind of volatile market and Trade at your own risk.
Thanks and Regards
S&P Wealth Creators
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