Nifty 8776 /Sensex 28523/ Bank Nifty 19850
21 Advances /30 Declines/ 0 Unchanged
“Sensex, Nifty end in red; Tata Steel, ONGC, Cipla gainers”
Tata Steel, ONGC, Cipla, Maruti and Lupin were top gainers while Adani Ports, Hero MotoCorp, Bajaj Auto, Bharti and BHEL were losers in the Sensex.
The market has ended in negative terrain. The Sensex was down 111.30 points or 0.4 percent at 28523.20, and the Nifty slipped 32.50 points or 0.4 percent at 8775.90. About 1182 shares advanced, 1525 shares declined, and 194 shares were unchanged.
Nifty Showed weak but volatility session for the day as FOMC meet created global and domestic hawkishness as investors were hesitant to build long positions looking at the impending FOMC policy meet and review on 21st and hence investors maintained a stock specific approach for the day and closed the weak and volatile session at 8776 losing 32 points to the index.
Our call to Buy ONGC (Fut/cash) around 255--252 proved great. It flared and made a high of 260.45 before closing the session at 257.75 .We booked part profit at 259.70.
[Profit of Rs 18750 on 1 Lot]
Our call to Buy Cipla 600 CE (Option) around 10 proved great. It flared and made a high of 16.35 before closing the session at 13.35 .We booked part profit at above 13--14.
[Profit of Rs 4000 on 1 Lot]
Our call to Buy CEAT Ltd 1080 CE (Option) around 30 proved great. It flared and made a high of 65 before closing the session at the same .We booked full profit at 65.
[Profit of Rs 24500 on 1 Lot]
Our call to buy Apollo Tyres 220 CE (Option) around 5.30 proved great. It flared and made a high of 8.50 before closing the session at the 5.05.We booked full profit at 8.50.
[Profit of Rs 9600 on 1 Lot]
Our stop loss triggered in M&M finance. Soon we will recover.
Now what to expect next??
Nifty and Bank nifty future levels
Nifty has immediate support at 8780 levels and resistance is at 8850--8880.
On close below 8780 we can expect it to test its next support level of 8730---8680 else it could test its resistance level of 8850---8880 again.
Further upside rally will see only close above 8880 mark.
On the other hand... Bank Nifty has immediate support at 19750 and hurdle is intact at 20100.
Break and sustain below 19880 will take it to 19750. Further downside panic will see only close below 19750 mark else it could test its resistance level of 20100 again. Further upside rally will see only close above 20100
Trade with levels only
Today's Top Pick
Today we will expect range bound trading as all eye on FOMC meet. Some crucial volatility we will expect in today's trading session but try to avoid trading in today's trading session.
We will hold our buy call of Yes Bank. Already up more than 30 points after our buy call.
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