Markets started the week on a firm note and gained over half a percent - Religare Broking
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Nifty Outlook
Markets started the week on a firm note and gained over half a percent, in continuation to the prevailing trend. Firm global cues triggered an upbeat start in Nifty and it almost retested the previous swing high closer to the 18,000 mark in early trades and remained range bound thereafter. Meanwhile, strong traction in the realty, IT and media pack combined with noticeable buying on the broader front kept the participants busy.
The recent rebound in the global markets especially the US is adding to the market strength and we reiterate our immediate target of 18,100+ in Nifty. Apart from the heavyweights, participants should also look at broader indices for trading opportunities.
News
* TVS Motor Company launches a new marine blue colour for TVS NTORQ 125 Race Edition, priced at Rs Rs. 87,011 (ex-showroom, Delhi).
* Bharti Airtel arm Nxtra Data partners with Bloom Energy for fuel cell installation at its data center in Karnataka. Nxtra will be the first data center company in India to deploy fuel cell technology to reduce carbon emissions at its data centers while unlocking cost and sustainability benefits.
* Titagarh Wagons has informed stakeholders that the Government of Italy, through its investment arm – Invitalia has taken a strategic stake in Titagarh Firema Spa (TFA)
Derivative Ideas
NIFTY gained 0.58% and closed at 17936.35 on 12th Sep. The index after opening with gap consolidated in a range. However the index faced resistance at 18000 levels and saw an intraday dip after that. We expect NIFTY to consolidate further and trade in a range of 17700-18000 in the short term and thus suggest selling CE as per the given levels.
Strategy:- SELL NIFTY 15 SEP 18200 CE @38-40, STOP LOSS 60, TARGET 5.
To Read Complete Report & Disclaimer Click Here
Please refer disclaimer at https://www.religareonline.com/disclaimer
SEBI Registration number is INZ000174330
Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer
Tag News
Weekly Market Analysis : Markets strengthened recovery and gained nearly 2% in the passing w...
