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Day buying and selling information for Monday’s market

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MOFSL


Nifty Outlook : Monday, 19th October 2020 – Chandan Taparia


Nifty index opened optimistic and witnessed a rebound of round 100 factors in the direction of 11789 ranges because it managed to carry earlier day’s low of 11661 marks. It fashioned a Bullish Hammer candle with longer decrease shadow on every day scale indicating bulls have been capable of struggle again. Index remained consolidative close to to 11750 zones for many a part of the session however fashioned a Bearish candle on weekly scale. Overall value and information setup suggests bounce could also be seen however a number of hurdle at larger zones might maintain the restricted upside available in the market for subsequent few periods. Now it has to carry above 11750 zones to witness a bounce in the direction of 11850 zones whereas on the draw back help exists at 11666 then 11550 ranges.

Stocks (spot ranges) :

DERIVATIVES

India VIX was up by 6.2% from 20.38 to 21.64 ranges on week on week foundation. It fashioned larger highs from the final three periods and desires to return down to supply consolation to the bulls. On choice entrance, Maximum Put OI is at 10500 adopted by 11000 strike, whereas most Call OI is at 12500 adopted by 12000 strike. We have seen Call writing at 11700 then 12100 strike whereas Put writing is seen at 11700 then 11500 strike. Option information suggests a wider buying and selling vary in between 11400 to 12000 zones whereas an instantaneous buying and selling vary in between 11500 to 12000 zones

Bank Nifty opened optimistic and witnessed shopping for curiosity in the direction of 23650 zones after taking help at 23150-23200 zones. It fashioned a Bullish candle on every day scale however a Bearish candle on weekly which suggests a variety certain bias in broader buying and selling vary. Now it has to carry above 23500 zones to witness an up transfer in the direction of 23750 and 24000 zones whereas on the draw back help exists at 23150 then 23000 zones.

NIFTY : OPTION STRATEGY : BULL CALL SPREAD : +11750 CE – 11850 CE : (22nd October, Weekly expiry)

BUY 1 LOT OF 11750 CALL @ 116

SELL 1 LOT OF 11850 CALL @ 66

NET PREMIUM PAID : 50 POINTS

KEEP SL OF NET PREMIUM OF 20 POINTS : RISK OF 30 POINTS

KEEP TARGET OF NET PREMIUM OF 100 POINTS : REWARD OF 50 POINTS

RATIONALE:

Nifty has fashioned a Hammer candle on every day scale and helps are intact

Weekly construction is in strain so upside is capped

Volatility is total at decrease zones which is suggesting market stability

Thus, suggesting Bull Call Spread to get the good thing about optimistic to vary certain transfer available in the market

Fx Technical
By Mr. Kishore Narne, Head – Currency & Commodities, MOFSL

USD/INR Status: The pair is prone to commerce with adverse bias within the short-term!

CMP: 73.43, Target: 72.50, Stop Loss: 74.00

Trade: Short-term bias for the pair stays weak so long as 74.00 is capped as sturdy resistance. Selling on rise is suggested focusing on 72.90 – 72.50 ranges.

EUR/USD Status: The pair is prone to commerce in the next vary for short-term!

CMP: 1.1715, Target: 1.1875, Stop Loss: 1.1575

Trade: Bias for the pair is prone to stay optimistic and dip shopping for is really helpful. Support is positioned at 1.1575 whereas short-term goal is at 1.1875.

Commodity Calls:
By Amit Sajeja, AVP- Commodities, MOFSL




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