Trading ideas (Time period: 1-3 days)

Pee Vee
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Posts: 256
Joined: Mon Dec 26, 2016 10:45 pm

Trading ideas (Time period: 1-3 days)

Postby Pee Vee » Thu May 04, 2017 6:30 pm

VIP Industries (BUY Above 210 for Target of 221, Stop Loss at 204.5): After consolidating for over four weeks, the stock has finally broken out from a Symmetrical Triangle Pattern on the daily chart. The price outburst has been accompanied with smart uptick in traded volumes. Even the RSI has reversed from the 60 mark indicating strength in the current price up move. We recommend to buy VIP Industries for target of Rs 221.

Derivative strategies (Time period: Till expiry)

Sell VEDL May Future @ 240.5-242.5 Stop Loss @ 247.25 and Target 236.5-237.

Derivative Snippets

In the last trading session, markets ended on a lacklustre note. PSU Banks took center stage as the Government gave positive signals on creation of Bad Bank to deal with NPA issues. Muted action was seen in Nifty option strikes as markets remained flat. Weekly Nifty Bank OTM option strikes remained under selling pressure, indicating of a range bound activity in today’s expiry day trading session.

FIIs were net sellers in cash market segment to the tune of Rs 518 Cr.

FII’s index future long/short ratio at 5x vs 5.2x.

Call Success

Oriental Bank of Commerce - Call Success

Reco Price: Rs 145-152, Target: Rs 180, Second Target: Rs 190

We had recommended a buy on Oriental Bank of Commerce in our Idea to Act report dated April 11, 2017 with target prices of Rs 180 and second target of Rs 190. The stock hit high of Rs 180.35 on May 3, 2017. The total return delivered since recommended price of Rs 145-152 stands at ~21.2% within 1-month. We recommend traders to hold on to long positions for our second target of Rs 190.

IIFL

Pee Vee
Site Admin
Posts: 256
Joined: Mon Dec 26, 2016 10:45 pm

Re: Trading ideas (Time period: 1-3 days)

Postby Pee Vee » Wed May 10, 2017 11:18 am

Trading ideas (Time period: 1-3 days)

Tata Sponge (BUY Above 872 for Target of 895, Stop Loss at 860): Tata Sponge has been a trending stock since December 2016 lows. After going through four weeks of consolidation, the stock has finally broken out from a flag pattern indicating resumption of its primary uptrend. The stock has found support around its 15-DMA. Other momentum oscillators also indicate that Tata Sponge is likely to extend the upswing.

Derivative strategies (Time period: Till expiry)

Sell Union Bank May Future @ 178.5-180.5 Stop Loss 184 and Target 175.25-175.75.

Derivative Snippets

In the last trading session, markets ended on a lacklustre note. Nifty OTM put options strikes remained under selling pressure with Nifty 9300 PE strike adding fresh short positions to the tune of ~7.2 lakh shares. Bank Nifty 22500 OTM put option strike saw fresh addition of short positions, indicating of a floor for Bank Nifty around 22500 levels during May F&O expiry series.

FIIs were net buyers in cash market segment to the tune of Rs 333 Cr.

FIIs index future long short ratio at 2.8x v/s 3.5x.

Pee Vee
Site Admin
Posts: 256
Joined: Mon Dec 26, 2016 10:45 pm

Re: Trading ideas (Time period: 1-3 days)

Postby Pee Vee » Wed May 10, 2017 11:20 am

Trading ideas (Time period: 1-3 days)

Karur Vysya Bank (BUY Above 120 for Target of 127, Stop Loss at 116.5): The stock has been consolidating for over two weeks. During this phase Karurvysya found support at its 15-DMA and has shown signs of resuming its uptrend. The stock is on the verge of a flag pattern breakout. Rising volumes and momentum oscillators also indicate that the current momentum is here to stay.

Derivative strategies (Time period: Till expiry)

Buy Tata Global May Future @ 152-154, Stop Loss 149 and Target 156-156.5.

Derivative Snippets

In the last trading session, Nifty ended on a negative note while Bank Nifty continued to surge higher. Call writing was witnessed in Nifty OTM strikes while Put writing was witnessed in Bank Nifty OTM strikes, indicating of a range bound trading activity in the indices.

FIIs were net sellers in cash market segment to the tune of Rs 1150 Cr.

FII’s index future long/short ratio at 5.2x vs 5.8x.

Pee Vee
Site Admin
Posts: 256
Joined: Mon Dec 26, 2016 10:45 pm

Re: Trading ideas (Time period: 1-3 days)

Postby Pee Vee » Wed May 10, 2017 11:21 am

Technical view: Nifty now finds strong support around 9270 with resistance now around 9380/9400. Bank Nifty now finds support around 21950 with resistance around 22500.

Trading ideas (Time period: 1-3 days)

IOC (BUY Above 444 for Target of 460, Stop Loss at 436): After rallying smartly in the first half of April, IOC was stuck in a narrow trading for the past 10 sessions and has finally broken out from a consolidation zone. The breakout is accompanied with smart pick up in traded volumes. Other oscillators also indicate that the current momentum is here to stay.

Derivative strategies (Time period: Till expiry)

Buy Tata Motors May Future @ 457-459, Stop Loss 448 and Target 465-467.

Derivative Snippets

In the last trading session, markets continued to surge higher as banking and FMCG stocks shined. Nifty and Bank Nifty ATM/OTM call and put option strikes remained under the selling pressure as the implied volatility tumbl e.

FIIs were net sellers in cash market segment to the tune of Rs 182 Cr.

FII’s index future long/short ratio at 5.8x vs 1.7x.


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