Modified Call Butterfly is a four-legged strategy where one lot of Call close to current underlying level is bought against that two lots of higher strike calls are sold and one more lot of Call is bought but closer to the call sold strike
Ashwani Gujral of ashwanigujral.com recommends buying Voltas with a stop loss of Rs 672, target of Rs 695, Titan Company with a stop loss of Rs 1130, target of Rs 1165 and Tech Mahindra with a stop loss of Rs 718, target of Rs 742.
Buying on dips continues to be our preferred strategy. For the week, we expect Nifty to trade in the range of 11,600-11,100 with a positive bias.
We have a buy rating on ICICI Lombard General Insurance Company with a target price of Rs 1,450 per share.
We believe ICICI Bank is favourably positioned to deliver superior profitability and return ratios.
We have incorporated the latest numbers to our models for the company and continue to remain positive for the company.
Option traders can go with Bull Call Ladder with the view to multiple support at 11,180-11,100 zones while hurdle at 11,500 to 11,700 zones
IRCTC has a dominant market share of 72 percent in Railway E-Ticketing bookings.
Recent formation of Inverse Head & Shoulders classical pattern will give a breakout by trading only above Rs 113, suggests buying in the stock for higher targets of Rs 148.
Mazhar Mohammad advised traders to remain focused on stock specific opportunites and feels better trading opportunity in index can arise on a strong close above 11,400 levels.
Motilal Oswal is not assuming any benefits of the corporate tax reduction in Q2FY20 as many companies would have paid advance tax.
Experts feel Diwali 2019 to Diwali 2020 period could be an exciting phase for the markets, expecting the market to return 15-25 percent.
Prakash Gaba of prakashgaba.com recommends buying Divis Labs with target at Rs 1720 and stop loss at Rs 1640 and Torrent Pharma with target at Rs 1760 and stop loss at Rs 1650.
Going forward, 11,100 will act as immediate support for the Nifty, with 11,550 acting as next resistance, which is previous weeks high for the benchmark index
Traders are advised to hold long positions with a stop below 11,090 levels, says Mazhar Mohammad.
Morgan Stanley also has overweight rating on Lupin with a target price at Rs 1,003, implying 47 percent potential upside from current levels as it believes the share price will rise in absolute terms over the next 30 days.
Sudarshan Sukhani of s2analytics.com recommends buying Manappuram Finance with stop loss at Rs 134 and target of Rs 155 and Raymond with stop loss at Rs 580 and target of Rs 650.
Nifty should trade in the range of 11,000-11,400 levels over the next few weeks while Bank Nifty can gain positive momentum once it crosses the 200-day average placed at 28,870 levels.
If the Nifty manages to decisively clear 11,400 levels, the rally may get extended up to 11,554, says Mazhar Mohammad.
We recommend buying Sudarshan Chemical Industries Limited (SUDARSCHEM) around Rs 370 levels with a stop loss of Rs 335 on closing basis for higher targets of Rs 425.
There is strong support around 11,000 for Nifty, and, if it breaks below that, the Nifty could test 10,850-10,800 levels, experts feel.
Sudarshan Sukhani of s2analytics.com recommends buying Divis Labs with stop loss of Rs 1600 and target of Rs 1750, Mindtree with stop loss at Rs 700 and target of Rs 760 and Zee Entertainment with stop loss at Rs 240 and target of Rs 270.
The whole eight percent rally seen after this announcement has fizzled out. This does not augur well for overall market breadth and signals further bearishness in midcaps and smallcaps
The equity market may trade with a negative bias in the short-term, but the broader market will maintain its positive bias in the long-term, Vinod Nair of Geojit Financial Services says.
Nifty is expected to trade in range of 11,700-10,700 levels for the month of October 2019 with mixed bias.