|Market out look dated 26th Feb 2018
Over all trend is down but some recovery on the card or pull back rally due to positive global ques. So take advantages of rally to book profit exit long and fresh shorting opportunity in market. On Friday some short covering seen in front line stocks as well closed short position in PVT Sector B anks whereas short rollover seen in PSU Banks. Pull back rally likely to be extended towards 10600 10650 or maximum 10735 10750 thereafter again down side likely start in market. Take advantage rally and play short at higher level is a best strategy in market.
Nifty : Time being support at 10300 and 10276 observed and break below only weakness towards 10000 mark, upper side sustained above 10500, open towards 10550 10600 10620 10650 likely whereas a good opportunity to short side or buy Put option of at the money strike price.
Bank Nifty : Decent recovery seen at lower level 24800 and almost closed above 25300, over all looks that recovery towards 25500 whereas a major trend decider of this month and sustained above, more short covering towards 25800 can not be ruled out. Higher level to exit opportunbity.
Option Front :
Highest put onstrike price at 10000, 10400 and Highest call at 10700 which indicate maximum upside in current rally, followed by 10500 and 11000.
Long Side : Mind Tree, Hindalco, BEL, IDBI Bank, VEDL, IGL, Tech Mahindra
Short Side : PNB and Asian Paints
Highest call of FO stocks
Sun Pharma 600
Tata Steel 700
Tata Motors 400
Aurbindo Pharma 600
Highest Put of FO Stocks
Sun Pharma 500
PJ Jewellers 340
More details call