Trading ideas (Time period: 1-3 days)

Post Reply
Pee Vee
Site Admin
Posts: 453
Joined: Mon Dec 26, 2016 10:45 pm

Trading ideas (Time period: 1-3 days)

Post by Pee Vee »

Technical view: Nifty finds support around yesterday's low @ 8888 and finds resistance around 8930, any break either side on closing basis will trigger further movement while Bank Nifty broke important support around 20600, which will see any close below 20536 trigger further downside with 20750 acting as strong resistance on the upside.

Trading ideas (Time period: 1-3 days)

Jet Airways (Buy above Rs 445.5, for Target of Rs 462, SL at Rs 436): On the weekly charts, Jet Airways took rising trendline support and has been moving up swiftly. Also, stock has broken out from a classic cup and handle pattern on the daily charts. The breakout is accompanied by higher than average volume build up in past few days. In addition, other momentum oscillators also indicate strength in the current upmove. We advise to Buy JETAIRWAYS above Rs 445.5, Stop Loss at Rs 436 and Target of Rs 462.

Derivative strategies (Time period: Till expiry)

Buy Tata Elexi March Future @ 1515-1520, Stop Loss 1484 & Target 1540-1545.

Derivative Snippets

Markets finally took a breather as the banking stocks led the fall. Nifty ATM/OTM put strikes added fresh long positions, while the ATM/OTM call strikes added fresh short positions, indicating a further downside.

FIIs were net sellers in cash market segment to the tune of Rs 146 crore.

FII’s index future long/short ratio at 4.8x.

IIFL
Post Reply