Headline index Nifty on Monday formed a bullish candle on the daily charts and ended above the 18,250 mark before making a higher top and higher bottom. Now it has to continue to hold above 18181 zones to witness an up move towards 18350 and 18500 zones, while on the downside supports are placed at … Read more
Strategy PositionsSell 27th April Nifty 17900 Call at 121-125 & Sell 27th April 17900 Put at 136-140, Target: 100, Stoploss: 360 Time Frame: till expiry.RationaleThe Nifty extended its gains by another 1% in a truncated last week and tested our targets of 17800, driven largely by short covering. Once again, financial stocks were major gainers … Read more
With Nifty scaling new peaks, a long bullish candlestick with a minor upper shadow was formed on the daily scale. This pattern indicates the continuation of the upside momentum in the market. The hourly and daily upper Bollinger Bands expanded along with price action, which assisted the bulls today. Momentum oscillator RSI gave a falling … Read more