Bullet Advice For Indian Stocks Weekly- Nifty outperforms global indices scales 52 week high
BSE Sensex (15237.94) and Nifty (4583.40) closed 0.9% up and 0.1% down respectively last week. Nifty OI Put Call Ratio was 1.09.Nifty Future June was quoting at 4.50 points premium.Nifty Call Option June 4700 was very active.Support for Sensex is at 14650 and Nifty at 4400.Resistance for Sensex is at 15700 and Nifty is at 4730.Crude oil was at 71.50 $.
Indian market continued its uptrend for the 14th consecutive week and climbed to 52 week high.Nifty has outperformed the global indices by wide margin.Inherent strength of the economy combined with stable Government at the center invited fresh buying from investors.
RIL and TataSteel added Open Interest in June Series.Sintex and GMR Infra shaded Open Interest.Huge position was build up at RIL June Call Option Strike Price 2400.Good build up was also seen at ICICI Bank June Call Option Strike Price 760.
Tactics for Future Option players.
1)Reliance Industries(2362.10) Lot Size-300
Buy One Call Option of June Strike Price 2370 @80.00 Rs.
Sell One Call Option of June Strike Price 2460 @44.00 Rs.
Premium .Paid=80*300=24000.00 Rs.
Premium Received=.44*300=13200.00 Rs.
Net Premium Paid=24000-13200=10800.00 Rs.
Maximum Profit=2460-2370=90*300=27000-10800.00=16200.00 Rs.
Maximum Loss=10800.00 Rs.
Break Even Price=2406
2)ITC(197) June Future-Lot Size 2250 shares.
Buy One Lot JuneFuture @197.00 Rs.
Sell One Call Option of June Strike Price 210@3.20 Rs.
Premium Received=3.20*2250=7200.00 Rs
Maximum Profit=210-197=13*2250=29250.00 +7200.00=36450.00 Rs.
Max Loss=Unlimited.
Trading Idea
1)Cipla(251.05)Buy this Stock in decline and trade
2)Union Bank(231.05)Buy this Stock in decline and trade
Trend of Major Stocks
STOCK TREND Days WeeklyTrend MonthlyTrend
BHEL.NS Bearish2FallingRising
ICICIBANK.NSBulllish2FallingRising
INFOSYSTC.NSBearish7RisingRising
ITC.NS Bulllish3RisingFalling
MARUTI.NS Bearish1RisingRising
SBIN.NS Bulllish3RisingRising
TATASTEEL.NSNeutral 2RisingRising
TCS.NS Bearish1RisingRising
Technical indicators of major Stocks
MFI=Money Flow Index
RSI=Relative Strength Index
ADX=Directional Momentum Index
STOCK CLOSE MFI-21 RSI-14 ADX-14
BHEL.NS 2212.05Loser54.3561.11
ICICIBANK.NS742.45 Loser53.6954.32
INFOSYSTC.NS1728.45Loser48.250.18
ITC.NS 196.65 Loser50.0854.11
MARUTI.NS 1085.1 Loser66.5664.76
SBIN.NS 1634.6 Loser52.1354.12
TATASTEEL.NS457.75 Neutral73.1267.93
TCS.NS 764.55 Loser66.3466.3
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