Trading ideas (Time period: 1-3 days)

Pee Vee
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Trading ideas (Time period: 1-3 days)

Postby Pee Vee » Fri Mar 17, 2017 9:51 am

Oriental Bank (Buy above Rs 130, for T arget of Rs 135.5, S top L oss at Rs 127.5): Stock has broken out from a consolidation pattern and has also managed to close above the downward sloping trend line on the daily charts. The breakout has also been accompanied with impressive rise in volumes. Other oscillators also indicate strength in the current up move. We advise to Buy Oriental Bank above Rs 130, Stop L oss at Rs 127.5 and Target of Rs 135.5.

Derivative strategies (Time period: Till expiry)

Buy IOC March Future @ 376.5-377.5, Stop Loss 369 and Target 384-385.

Call Success

We had recommended a buy on Arvind Ltd in our Idea2Act report dated December 14, 2016 with a target price of Rs 408. The stock has hit a high of Rs 409.70 on March 16, 2017. The total return delivered since recommended price of Rs 345 stands at ~18.2%. We recommend investors to book profit.

Derivative Snippets

Markets continued to surge higher and closed at the highest point in yesterday’s trading session. Short covering in Nifty ITM calls along with fresh buying in Nifty 9200CE was witnessed.

With no line up of major events in March expiry, Implied Volatility of Nifty ATM options plunges below 10% for the first time in this series.

FIIs were net buyers in cash market segment to the tune of Rs 1360 crore.

FII’s index future long/short ratio at 3.1x. Significant Long positions were created in Index Futures and Call options in yesterday’s day.

IIFL

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