Mazhar Mohammad advised traders to hold their long positions with a stop below 11,553 on closing basis and should book profits close to 11,770 levels.
Mazhar Mohammad advised traders to create fresh long positions in index with a stop below 11,430 on closing basis and look for initial targets placed around 11,800.
Traders are advised to hold long positions, if any, with a stop below 11,400 on closing basis, Mazhar Mohammad said.
Traders should focus on stock-specific opportunities and retain positive bias as long as the Nifty trades above 11,342, says Mazhar Mohammad
Mazhar Mohammad said for time being, upsides shall continue to remain capped around 11,420 levels unless a decisive breakout is registered above the said level
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
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
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.
Traders are advised to hold long positions with a stop below 11,090 levels, says Mazhar Mohammad.
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.
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
Nifty is expected to trade in range of 11,700-10,700 levels for the month of October 2019 with mixed bias.
Upsides shall remain capped at around 11,400 and rallies towards 11,200 shall be considered as an opportunity to create fresh short positions, with a stop above 11,235 on closing basis, says Mazhar Mohammad.
On the weekly time frame, the Relative Strength Index is trading near 50 levels, showing strength.
The Nifty could find support around 11,050-10,800 levels, with the 11,250-11,400 zone likely to act as a hurdle.
Option data suggests a shift in lower trading range in between 11,000 to 11,600 levels
Experts felt the 11,100 is crucial support for the Nifty, if it breaks the same it can fall belowthe psychological 11,000 levels, whereas bulls can get strength only above 11,400.
Immediate resistance for the week is 11,370 which, if breaks on higher side, could strengthen the bulls further till the level of 11,554.
For the time being, short term trades are advised to wait for some initial signs of strength before creating fresh long side positions, says Mazhar Mohammad, Chief Strategist – Technical Research & Trading Advisory, Chartviewindia.in.
Considering the latest uncertainty surrounding the markets, Mazhar Mohammad advised traders to remain neutral on the index for time being.
As long as the Nifty trades above 5 EMA, placed around 11,450, go for 'buy on dip' strategy, says Shabbir Kayyumi of Narnolia Financial Advisors
Significant heavyweights in the Nifty Private Bank basket are going to lead the show, and we should be stick to them.
All of these bases have strict requirements and particular specifications. Yet, all of them will show the same signs of institutional support and buying