Market undertone is bullish as i have been always telling you.
But there are many stocks which have been in over bought
situation and there could be lot of volatility to be seen.
One positive note is that the put writing open interest has shifted
from 5800 to 5900 and slowly even 6000 is also picking up.
So the index might still keep jumping between 5980 to 6120, it
is advisable not to trade in nifty and trade in stock specifics.
If you get good rates, you can surely buy or sell in the above
mentioned range.
Reliance result has surprised the market and you may see huge
rally in the stock and it may not be surprising if Reliance crosses
1000+ mark within a day or two.
So, Buy Reliance @ 900 - 920
SL - 880
Target - 940, 960, 1000, 1050, 1100
Duration - 1 to 3 months
Sell Hindustan Unilevel @ 490-500
SL - 510
Target - 480, 470, 460, 440
Duration - 1 month
But there are many stocks which have been in over bought
situation and there could be lot of volatility to be seen.
One positive note is that the put writing open interest has shifted
from 5800 to 5900 and slowly even 6000 is also picking up.
So the index might still keep jumping between 5980 to 6120, it
is advisable not to trade in nifty and trade in stock specifics.
If you get good rates, you can surely buy or sell in the above
mentioned range.
Reliance result has surprised the market and you may see huge
rally in the stock and it may not be surprising if Reliance crosses
1000+ mark within a day or two.
So, Buy Reliance @ 900 - 920
SL - 880
Target - 940, 960, 1000, 1050, 1100
Duration - 1 to 3 months
Sell Hindustan Unilevel @ 490-500
SL - 510
Target - 480, 470, 460, 440
Duration - 1 month
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