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Derivatives: Buy Can Fin Homes; Sell Bajaj Auto

Way2wealth | 11 Jan, 2018  | Follow Author | Add to my Favourites 
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Indices opened on flat note in yesterday’s session and saw profit booking in first half of trades that dragged nifty below 10600 levels. However, strong buying was seen in technology and pharma sector that helped nifty to recover all the early losses and finally it closed around 10630 levels down by minor loss of 5 points.

- Nifty fut. saw buying interest from lower levels and added almost 9.35 lakh shares in OI whereas Banknifty fut. saw long unwinding pressure in Wednesday’s trade.

- Fresh long positions were initiated in technology and pharma sector. Major buying interest was seen in stocks like niittech, ofss, tataelxsi, concor, tcs and oil.

- Long unwinding pressure was seen in auto, infra, textile, tyre and realty sector. Stocks like idbi, dcbbank, relcapital, escorts, mrf and raymond saw profit booking.

- Short accumulation was seen in banking, power and metal sector. Pageind, bergepaint, muthootfin, bankindia, eichermot and cholafin were some of the stocks that added short positions.

Markets are expected to open on flat note and will continue trade in narrow band of 10550-10660 levels. On higher side, nifty will see resistance around 10660-10680 and from those levels profit booking can be seen whereas on lower side put writing at 10500 will act as strong support for indices in short term.


Script                    Action         Initiation          Target         SL

BAJAJAUTO        SELL         Around 3225        3154         3260

CANFINHOME     BUY          Above 486           505         475

  Read full report Click here to read the full report

2,750.00 -92.05
2,748.95 -86.00
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Way2Wealth today has established itself as one of India’s ‘Premier Investments Consultancy Firms’, known for making investing simpler, more understandable and profitable for the investors. They offer a wide range of products & services viz: Equity, Derivatives, Currency Futures, Commodities Trading, IPO's, Mutual Funds, Portfolio Management Services & Depository Services.


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Disclaimer: The author has taken due care and caution to compile and analyse the data. The opinions expressed above are only the views of the author, and not a recommendation to buy or sell. Neither the author nor accept any liability whatsoever arising from the use of any of the above contents.

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