TATASTEEL added around 2.25% of open interest as fresh short positions. Daily vwap is around 455 levels. Huge call writing was seen at 460 strike and put buying (unwinding by writers) was seen at 440 and 460 strikes. On charts, it has witnessed breakdown from important price support of 460 levels on April 18, 2017. We suggest buying TATASTEE
* Nifty Apr futures volume weighted average price (VWAP) is at 9175 and Banknifty futures is at 21575.
* Huge call writing was seen at 9200 strike followed by 9150 strike and put buying (unwinding by writers) was seen at 9100 strike. Maximum positions are still at 9100 PE and 9200 CE. Nifty is expected to be in the range o
ULTRACEMCO added around 2.5% of open interest as fresh long positions. In line with other cement stocks, it has also witnessed addition of long positions. It has also created a fresh buying pivot on daily as well as on weekly charts near price support zone of 3940-3950 levels. We recommend buying ULTRACEMCO Apr futures
VOLTAS has formed a buying pivot on the daily chart after retracing marginally from the record high. Its current chart pattern along with confirmation indicators clearly pointing towards fresh surge ahead.
21/04/2017 11:29:58 AM|Posted in Broking Firm Views - Short Term Reportread full news
POWERGRID added around 10% of open interest as long positions. Daily vwap is around 207.50 lev-els...Fresh long build up in scrip, and break out above 204 suggest stock might rise to around 240 in the short term.
Among the PSU banking pack, CANBK has been holding strong above its major moving averages and formed a fresh buying pivot while consolidating in a narrow range on daily chart. We advise short term traders to initiate fresh longs in the given range.
20/04/2017 9:54:58 AM|Posted in Broking Firm Views - Short Term Reportread full news
After prolong corrective phase, mostly realty counters have finally witnessed trend reversal. In line with others, DLF has also seen a fresh breakout from a bullish reversal pattern and looks all set for a fresh surge.
20/04/2017 9:50:35 AM|Posted in Broking Firm Views - Short Term Reportread full news
ASIANPAINT added around 8% of open interest as short positions. Daily vwap is around 1059 levels. Call writing was seen at 1060 & 1080 levels. On charts, stock was finding it difficult to cross price resistance zone of 1090-1100 levels. On Tuesday, it has created a selling pivot on daily charts. We suggest selling ASAINPAINT futures as per levels mentioned below.
* DCB Bank closed 3% higher, outperforming benchmark NIFTY by 3.4%.
* The bank has reported substantially improved performance on operating parameters in 4QFY17. Its NII rose by 30.6% YoY led by robust growth in loan book (22.4% YoY) and 10bps YoY rise in NIMs to 4.04%.
TECHNICAL RATIONALE – SRF, after six months of consolidation, has witnessed breakout from a triangle pattern (which act as continuation pattern) of late and looks all set for a fresh surge ahead. Traders should accumulate fresh in the given range.
IRB added around 4.70% of open interest as fresh long positions along with some delivery based buying in previous session. Call writing was seen at 250 strike and put unwinding was seen at 235 strike. On charts, stock is trading above short term as well as long term moving averages on charts. We expect it to test 252 levels in short term. We suggest doing a covered call in IRB as per below ment
COX&KINGS has witnessed a marginal profit taking recently and retraced near to its immediate support zone of long term averages. Existence of multiple moving averages combined with the chart formation pointing towards strong rebound in near future.
After consolidating in a narrow range near its short-term moving average on daily chart, POWERGRID has formed a buying pivot with decent rise in volume, indicates accumulation. We advise traders to initiate long trades as per the mentioned levels.
HINDALCO added around 15% of open interest as short positions. Daily vwap is around 186.50 levels. Call writing was seen at OTM strikes along with some put buying (unwinding by writers) at 180 strike. We recommend doing a bear spread with put option in HINDALCO as per levels mentioned below.