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Derivatives outlook and recommendations for 18 Dec' 17

Way2wealth | 18 Dec, 2017  | Follow Author | Add to my Favourites 
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Market Round Up

Last week, Indian markets opened on positive note but failed to breach 10300 levels and saw selling pressure in first half of session that dragged Nifty below 10150 levels. However, in last 2 trading session of week sharp pullback was seen across the board that helped Nifty to close above 10300 levels with gains of almost 0.66% on weekly basis.

- In Friday’s trade, short unwinding pullback was seen in nifty and banknifty. Nifty fut. shed almost 12 lakh shares in OI and closed at 26 points premium to spot nifty.

- Fresh long positions were added in capital goods and tyre sector. Major buying interest was seen in stocks like bata, apollotyre, jet airways, pcjeweller, m&m and havells.

- Short covering based buying support was seen in banking, auto, metal and realty sector. Stocks like escorts, siemens, bergepaint, federalbnk, manappuram and arvind saw short unwinding.

- Selected short accumulation was seen in cipla, hexaware, powergrid, marico, canbank, and bhartiartl.

Today markets are expected to open on choppy note ahead of state election results and will continue to be volatile depending on the results. On higher side nifty will see stiff resistance around 10400-10450 levels and any rally towards those levels can be used to book profit in long positions whereas on lower side 10200-10150 will act as strong support for indices in short term.


Script                    Action            Initiation      Target         SL

BAJFINANCE       BUY Around      1695              1760         1665

ULTRACEMCO     BUY Around      4275              4360         4240

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About Way2wealth

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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