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Nifty Outlook

Markets took a breather after Thursday’s surge and ended almost on a flat note. The Nifty index opened marginally lower and oscillated in a narrow range till the end to close at 18,512.75 levels. Meanwhile, selective buying in the index majors from across sectors combined with a recovery in the broader pack kept the participants busy.

With the benchmark at a record high, improvement in the broader participation would play a critical role in shaping the market trend. Besides, the performance of the global markets will continue to weigh on the sentiment. We recommend following the trend and focusing on identifying the themes which could unfold ahead along with the present leaders.

News

* NIIT has been recognized as the Best E-Learning Platform by the Associated Chambers of Commerce & Industry of India. The award was given to NIIT Digital for its contribution to the technology training sector.

* Reliance announced that its Jio has taken a big stride forward by extending its True-5G coverage in each of the 33 district headquarters of Gujarat, thereby making Gujarat the first state in India to get Jio True 5G coverage in 100% of the district headquarters.

* Happiest Minds Technologies announced the inauguration of a new Development Centre in Bhubaneswar, taking forward its long-term investment plans for further, expansion in alignment with the focus on Make in Odisha.

Derivative Ideas

Nifty gained 0.15% and closed at 18512.75 on 25th Nov. The index after opening flat consolidated in a narrow range throughout the day. NIFTY DEC FUTS added around 2.5% to its Open Interest as Fresh Longs. With significant Put selling Seen at 18300 weekly strike, we expect NIFTY to maintain its positive bias and continue to trade in the range of 18300-18600, thus suggesting selling PE as per the given levels.

Strategy:- SELL NIFTY 01 DEC 18200 PE @ 28-30, STOP LOSS 50, TARGET 5.

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