The previous couple of weeks have been notably totally different; nonetheless, for the higher. A second effort not solely cleared that hurdle, however constantly shifted Nifty’s vary increased. Post 10% up transfer, periodical pullbacks in direction of the assist zone of 11,700 is likely to be there. However, somewhat extra progress from right here might shove the rally into a good increased zone in direction of 12,000. Mixed inside breadth signifies that stock-specific rally theme is more likely to proceed.
Short strangle on Nifty
(Expiry: 15th October)
- Sell 12,050 name and 11,650 put at mixed premium of Rs 100-105
- Stop loss is Rs 159
The index has extra room on the upside. However, increased ranges might appeal to some revenue taking after which it’s more likely to witness some value consolidation. Hence, promoting OTM choices for the approaching weekly expiry appears prudent technique to comply with at present ranges.
Buy Godrej Properties
- October future close to Rs 927
- Stop lack of Rs 903 for a attainable upside goal of Rs 980
The inventory has rebounded from the assist zone. Recent rally was accompanied on comparatively increased volumes; additionally recent longs had been seen within the October future. Positive follow-up might appeal to additional shopping for curiosity.
- October Rs 165 name possibility close to Rs 6.
- Keep cease lack of Rs 1 for a attainable upside goal of Rs 16.
Gradual up transfer from the latest low ensures shift of vary on the upper facet. Sustenance above Rs 160 might set off swift transfer on the upside.