Market outlook for Tuesday

Nifty 50

Expected range for tomorrow

18230-250 to 18470-490
We are expecting nifty to trade between the levels of 18230 to 18490 breaking
the range either side can give an additional move of approx. 100 point one can
create long position in nifty near the levels of 18250 with stoploss of 18202 for
target of 18375 to 18465. For people carrying overnight long position or
making long position should book profit near the levels of 18500 an wait for
the breakout above the level of 18526
High risk trader can also create long position near 18300 levels with the view
that if market goes down they can average it till 18230 with stoploss of 18202
Overall market remain buy on dips any dip is an buying opportunity

Option trading idea

One can create bull call spread in nifty in any dips
Smit’s strategy
sample
Buy call of 18400 at 66
Sell call of 18450 at 43
Sell put of 18200 at 21
Stoploss 18190
Maximum profit 48rs
Maximum loss till 18180 13rs
(Above strategy is as per Monday closing price of Monday please recreate
strategy as per market condition n options price)

Banknifty

Technical ranges
Small range 43800 to 44200
Big range 43500-600 to 44400-44500
We can expect Banknifty to make new life time high tomorrow after that if its
also break level of 44200 we can see a rally till 44400 to 44500 on other hand
there are changes that we might see some profit booking in Banknifty near
level of 44200 one can enter in call option near the levels of 43800 for target of
44150 with stoploss of 44750 overall Banknifty is more stronger than nifty so
any dip is Banknifty is a buying opportunity
Option trading idea
One can buy call near 43800 with stoploss of 43750
For safe trader they can also create a bull call spread
Option suggested is 44000 CE with the view that Banknifty will not break the
support of 43800 an will expiry above levels of 44000

Finnifty

Technical range
19470 to 19750-800
Tomorrow we have expiry of Finnifty the important level to watch for
tomorrow is 19379 till Finnifty is above 19379 we can play buy on dips in
tomorrow expiry with the view that Finnifty can touch life time high with is
near 19800 levels
Important support level 19470
Resistant 19750-800
People carry long position in Finnifty should book profit near the levels of
18750
Option suggested
19600 ce with the view that if Finnifty hold the level of 19479 we can expect
expiry at higher levels

Option chain analysis

Nifty 50

As we can see that maximum put writing has been done at 18300 an
maximum call writing at 18500 so that we can expect that nifty will trade
tomorrow between the range of 18300 to 18500 if it break either of the range
we can see any addition move of 100 point either side
An as we can also see that second highest call writing an put wring is on same
level with is 18400 so for tomorrow 18400 is very important level if nifty
sustain above 18400 for some time we can see some good buying on other
hand if nifty start trading below 18400 we might see some sort of selling
pressure
Current pcr of nifty is 1.26 with indicate put writer are more active an very dip
is an buying opportunity

Banknifty

As we can see that maximum put writing in Banknifty is at 43500 which will act
as a strong support on other hand maximum call writing is at 44000 as
Banknifty is already above 44000 an if it continues to stay above 44000 we can
see some sort covering in Banknifty which can lead Banknifty to 44500 levels
we can also see that second highest put writing is also done at the level of
44000 if Banknifty is able to sustain above 44000 we can see some good up
move on other hand second highest call writing is at 45000 levels which is
almost 1000 point from CMP expecting banknifty to outperform compare to
nifty
current pcr of Banknifty is 1,47 which is slightly overbought which can lead to
some sort of profit booking at higher level
Overall every dip is buying opportunity

FII/DII DATA
STOCK IDEAS
ASHOKLEYLAND

ENTRY PRICE ABOVE 155(CLOSING BAISIS)

STOPLOSS 152(CLOSEING BASIS)
TARGET 1ST 160 ,2ND 166(TIME FRAME 1 WEEK)

AXISBANK
WE CAN SEE A CUP AN HANDLE FORMATION IN AXIS BANK
ENTRY PRICE ABOVE 920 (CLOSING BASIS)
TARGET 1ST 940,2ND 958(TIME FRAME 1-2 WEEKS)
STOPLOSS 908(CLOSING BASIS)

CONCOR

ENTRY PRICE CMP

STOPLOSS 635(CLOSING BASIS)
TARGET 700+(TIME FRAME 2WEEKS)

Report by
Smit Parekh
9699419709
(feel free to connect on WhatsApp for any type of help regarding
equity markets )
Disclaimer
I am not a sebi register advisor the above report is there only for education purpose please do proper research
before entering into any position