morning thoughts...
The markets continued its up side and managed to trade positive throughout the day with very limited activities in stock specific and broader markets
Technically analysing the index on daily charts the ist indicator we would like to indicate is the rsi which has touched 68 and if we look at the bollinger band - its at higher side with doji
RSi suggests that there would be some upsides in the coming session , however bollinger band suggests that its near targets or has achieved same and a reaction is not ruled out on higher side so expect high volatility and profit booking on higher side
There has been addition of cumulative interest at 10600 put writers with maximum oi and not much unwinding at 10900 and 11000 levels
Last days activities did not witness or see any participation by fiis , only selected buying was witnessed by diis which is again an area of concern
Now the important trigger for the markets remains the results season which will give and spark direction for the markets
Few of the stocks which will feel pressure in markets are tata steel , vedanta , jsw steel , jindal steel, hindalco , upl , hind zinc and calls for shorts at higher levels , put options in the same also looks good
On the stronger sides stocks like tcs , tech mahindra , havells india , bajaj auto , maruti looks good good for longs and call options
We have opened up some shorts in nifty and bank nifty at higher side on tuesday afternoon following the bollinger pattern
We are bearish on steel sector and hold shorts and put options in tata steel , vedanta , hindalco , hind zinc ,jsw steel
We are following our candlesticks , rsi , bollinger pattern for above moves with proper sl as we expect huge volatile session ahead with supports at 7 dema and resistance at 20 dema, giving sudden bounces and sudden falls
www.analysetrades.blogspot.in
09205721529
The markets continued its up side and managed to trade positive throughout the day with very limited activities in stock specific and broader markets
Technically analysing the index on daily charts the ist indicator we would like to indicate is the rsi which has touched 68 and if we look at the bollinger band - its at higher side with doji
RSi suggests that there would be some upsides in the coming session , however bollinger band suggests that its near targets or has achieved same and a reaction is not ruled out on higher side so expect high volatility and profit booking on higher side
There has been addition of cumulative interest at 10600 put writers with maximum oi and not much unwinding at 10900 and 11000 levels
Last days activities did not witness or see any participation by fiis , only selected buying was witnessed by diis which is again an area of concern
Now the important trigger for the markets remains the results season which will give and spark direction for the markets
Few of the stocks which will feel pressure in markets are tata steel , vedanta , jsw steel , jindal steel, hindalco , upl , hind zinc and calls for shorts at higher levels , put options in the same also looks good
On the stronger sides stocks like tcs , tech mahindra , havells india , bajaj auto , maruti looks good good for longs and call options
We have opened up some shorts in nifty and bank nifty at higher side on tuesday afternoon following the bollinger pattern
We are bearish on steel sector and hold shorts and put options in tata steel , vedanta , hindalco , hind zinc ,jsw steel
We are following our candlesticks , rsi , bollinger pattern for above moves with proper sl as we expect huge volatile session ahead with supports at 7 dema and resistance at 20 dema, giving sudden bounces and sudden falls
www.analysetrades.blogspot.in
09205721529
