M&M added 12.90% of open interest as fresh long positions. It has rolled around 45% into November series. It is trading near its price support zone on daily charts. We are anticipating it to rebound from these levels.
BUY M&M NOVEMBER FUTS BETWEEN 1305-1308, SL 1290, TARGET 1350.
ZEEL added 18.90% of open interest as fresh long positions. Call writing was seen at ATM strikes. On charts, it is trading above its 100/200 EMA’s on daily charts. we expect it to rally till 540 in short term.
BUY ZEEL NOV FUTS BETWEEN 512-514, SL 500, TARGET 540.
TECHNICAL RATIONALE – IRB, after retesting its immediate hurdle around 270 levels, retraced marginally and consolidated above the support zone of long term averages on the daily chart, result in formation of fresh buying pivot.
25/10/2016 5:09:45 PM|Posted in Broking Firm Views - Short Term Reportread full news
TATAMOTORS added 4% of open interest as fresh long positions. It has rolled 32% into November series. On charts, it is trading on verge of bullish breakout from Pennant formation on daily charts. We expect it to rally till 600 levels in short term.
BUY TATAMOTORS NOV FUTS BETWEEN 556-558, SL 545, TARGET 590.
PFC registered fresh breakout on Friday, last week after trading sideways in narrow range for almost two weeks. This up move was supported by strong volume indicating buyers interest at current levels.
This fiscal year (April-16 till date), KTKBANK has doubled, rallied from 82-162 levels. Post this up move, it is consolidating from past three weeks in range (140-160). Passing week, it settled on strong note and looks all set for fresh up move towards 175-180 levels.