Nifty Option Tips

On the global stock markets front, almost all the major indices in Asia ended on a positive note. The Seoul Composite, Taiwan Weighted, Nikkei225 and Hang Seng and Nikkei225 advanced by 2.20% at 1,970.66, 1.37% at 8,738.37, 0.89% at 10,586.02 and 0.32% at 23,122.42 respectively. However, the Shanghai Composite declined by 0.34% at 2,903.83.

European markets, which opened after the Indian stock market, traded on a positive note. Key benchmark indices like – CAC 40 was trading higher by 0.97% at 4,073.55, FTSE 100 advanced by 0.75% at 5,959.12 and in Frankfurt, DAX index was trading up by 0.56% at 7,221.45.

The BSE CG index was at 13,222.99 up by 304.12 points or by 2.35%. The main gainers were Punj Lloyd Ltd. (Rs. 66.30,+4.74%), Bharat Heavy Electricals Ltd. (Rs. 2126.35,+3.30%), Larsen & Toubro Ltd. (Rs. 1662.00,+3.17%), Havells India Ltd. (Rs. 352.55,+2.26%) and BGR Energy Systems Ltd. (Rs. 438.45,+2.07%).

The BSE Oil&Gas index was at 9,624.87 down by 64.87 points or by 0.67%. The main losers were Bharat Petroleum Corporation Ltd. (Rs. 570.75,-2.27%), Hindustan Petroleum Corporation Ltd. (Rs. 323.45,-1.66%), Oil And Natural Gas Corporation Ltd. (Rs. 269.60,-1.52%), Petronet LNG Ltd. (Rs. 115.40,-1.28%) and Reliance Industries Ltd. (Rs. 978.40,-1.07%).

On the corporate front, shares of Sanwaria Agro Oils Ltd surged by 4.64% to Rs 186.00, after reports came that the Board of Directors of the Company at its meeting held on March 03, 2011, has considered and approved issue of bonus shares in the ratio of 1:1.

After a Negative opening market was closed to good positive note .CNXIT was a major supporter in the market. Relinace was a good player for doing good support with market, JP associate, STER, ONGC, RELINFRA was a also did well tomorrow's trading session major Support 5431-5365, Resistance 5544-5591-5600 watch out. Real move only above if sustained 5600 level...

After a sharp decline in early trade, last hrs of trading small pullback were saw and resulted finally closed in green note and BSE closed at 18438 with a smart gain. Now Today crossover 18457 and stay with volume and may test 18750-18772 which is major resistance of this corrective rally, reversal to again selling pressure likely in the market. 

Over all trend is bullish, we may consider trading range 10500 to 11500 in medium term. Today support 11000 and 10950 watch out, higher level crossover 11100 and stay with volume may test 11190-11250 and above. Two close below 10900 will invite big correction in this sector, otherwise dip / panic to buy side. 

Finally it was face resistance 965 level which indicate near term support 920-900. Strong close above 965 will move further and may test 1000 mark. Re rating of this stock... catch it opening bell.

 

Looks good with consider strong support 160.. level no problem in this counter.....

Above 505 looks good and crossover 520 and stay with volume more up side. 

Corrective rally will face resistance / supply at the level of 1145-1150, thereafter u can decide your trading strategy. 

BPCL: (589) Break below 577 it'll fall down to 554. Upward side 606 a solid resistance.

DLF: (232) Break below 225 it'll fall down to 214 & 200. Upward side 237 a solid resistance, keep stop loss of 242 & go short.

L&T: (1653) Sell on higher levels considering 1689 a solid resistance keeping stop loss of 1724. Downward side break below 1612 it'll fall down further to 1571 & 1546.