We mentioned about the resistance levels of 16800 and 36200 on nifty and bank nifty and both remains intact in the coming session with supports at 16300 and 35000 levels respectively which may tend to swing wildly before the financial policy
So the strategy will be to buy the dip for nifty and bank nifty near supports 16300 and 35000 with a viable stoploss at 16200 and 34750 for upside targets and short covering for 16500-600-700 levels and looks out for resistance of 16800
Similarly bank nifty for upsides of 35600-800 with resistance of 36000
On initial dip and panic the strategy will be to buy nifty and bank nifty as above along with call options in nifty and bank nifty of weekly expiry
We are bullish on power , oil and gas sector and tend to take positions in futures and options of the stocks of the sector
We have intimated about oil and gas , power sector and both were the top gainers in last few sessions and same sector is likely to out perform again with media in addition
The coming session looks like a bright oppurtunity for index trades along with stock options trade due to dip in vix and rise in macd
We have higher large positions in LT puts in convert and jackpot series along with few other positions
Commodities remains a sell on rise in bullions , base metals and energy
Stocks to watch
Buy nifty and bank nifty
Buy nifty 16400 ce 9 june
Buy bank nifty 35400 ce 9 june
Buy ongc 160 ce
Buy gail 150 ce
Buy sun tv , coal india
Sell crude , gold , silver mcx
