Earlier, expiry day volatility used to kick in on different days of the week. After the Sebi rules came into effect, the entire weekly expiry event has shifted to a single day.
The Nifty, he says, has to hold the 17,777 zone for any kind of upward move. If it doesn’t, the index may fall to the 17,500-17,350 range. The metal index is trading near its life-time high and can hit 7,000, Taparia says.
Bulls stage a comeback on Dalal Street. What triggered the relief rally? We ask Madhuchanda Dey. We also tell you how you should position your trades. Queries answered with Chandan Taparia. #AskMC
On our brand new daily show, Morning Trade with Moneycontrol today: We get you prepared for today’s trading day with some actionable stock ideas from Chandan Taparia of Motilal Oswal Fin. Post your queries here. #AskMC
The index has to hold above 15,750 to witness an up move towards 15,962 and then towards 16,200, while on the downside, key support levels are 15,600 and 15,500, said Chandan Taparia of Motilal Oswal Financial Services
A rounding top is a chart pattern which is identified by price movements that when graphed form the shape of an upside down "U".
Traders can go with Bull Call Spread by buying one lot of 11,750 call and selling one lot of 11,900 call to play to positive to rangebound move of the market.
Chandan Taparia, Derivative & Technical Analyst at Motilal Oswal Securities suggests buying Bharat Financial Inclusion, Coal India and Dalmia Bharat.
The Nifty index rose for the fourth consecutive day to an intraday high of 9,938. It has been making higher highs and higher lows from the last three trading sessions.
The level of 9,920 which was the intraday high in Wednesday’s trade will act as a crucial resistance level for the index in the short term.
Strong Put base placed at 10000 strike remains crucial support which suggests Nifty to remain in the consolidation phase in the near term.
Chandan Taparia of Motilal Oswal Securities recommends buying NMDC, IndusInd Bank and Eicher Motors.
The pattern has no or a tiny upper shadow, a small body, and a long lower shadow. The body is at least half the size of the tail. It is a bullish reversal pattern and often signifies that the market could be nearing a bottom.
Chandan Taparia of Motilal Oswal Securities suggests buying Mahindra & Mahindra Financial Services and Indian Oil Corporation and feels that Canara Bank may head lower to Rs 330.
Chandan Taparia of Motilal Oswal Securities recommends a Bull Call Spread in Infosys and advises buying Havells India and NTPC and suggests selling PNB.
A bullish candle formed for the second consecutive day signifies that the market witnessed sustained buying interest from the Bulls
Chandan Taparia of Motilal Oswal Securities suggests buying Infosys while Bank of Baroda looks weak and advises buying 145 Put in the stock.
Chandan Taparia of Motilal Oswal Securities recommends buying State Bank of India, Petronet LNG and Hindalco Industries.
Chandan Taparia of Motilal Oswal Securities recommends buying Petronet LNG, Havells India and Escorts.
Chandan Taparia of Motilal Oswal Securities suggests buying Shriram Transport Finance, Titan Company and ONGC.
Traders can stay long on the index with a stop below 9944 with a target of 10,350.
Chandan Taparia of Motilal Oswal Securities suggests buying Bharat Financial Inclusion and RBL Bank and advises bull call spread in Zee Entertainment.
A bearish candle after a strong bullish candle is not a welcome sign for the bulls. But, as long as 9,965-10,000 on the index holds, bulls have nothing to worry, suggest experts.
A bullish candle formed on the daily chart today signifies that the market witnessed sustained buying interest from the Bulls for the most part of the trading day which is a bullish sign.
However, investors could remain cautious and wait for the index to close above 10K on a closing basis to initiate fresh positions, suggest experts.