Indian Equity Markets had a faboulous start of the week. The benchmark indices Nifty and Sensex had a gap up opening in the morning and capitalized on the gains throughout the day. It finally closed the day up by 1.50%. Target levels suggested by us on Nifty last week has reached its target level of 5200.
Provisional data by exchanges data is encouraging for the day. Foreign Institutional Investors (FIIs) were net buyers by around 400 Crores in Capital Market segment, while in derivatives segment, FIIs were net buyers by around 500 Crores in the futures segment.
Dow Jones has also opened in a positive territory on encouraging data from Europe. Asian markets are likely to take Europe data encouraging and we may see another gap up opening tomorrow. Though Nifty is now in a resistance zone and tomorrow's gap up opening can be seen as a perfect opportunity to take "Sell on Rise" strategy. The traders can sell Nifty at 5240-5260 levels with target price of 5175 and stop-loss can be maintained at 5310.
Our pair trade strategies for Kotak Bank and SBI is giving good gains at the moment, though, it has not reached its concluded levels. The other pair trade strategy for Tata Motors and M&M has not performed, but I am quite hopeful that M&M can see correction coming in soon.
Wishing you a great trading day tomorrow!!!
Provisional data by exchanges data is encouraging for the day. Foreign Institutional Investors (FIIs) were net buyers by around 400 Crores in Capital Market segment, while in derivatives segment, FIIs were net buyers by around 500 Crores in the futures segment.
Dow Jones has also opened in a positive territory on encouraging data from Europe. Asian markets are likely to take Europe data encouraging and we may see another gap up opening tomorrow. Though Nifty is now in a resistance zone and tomorrow's gap up opening can be seen as a perfect opportunity to take "Sell on Rise" strategy. The traders can sell Nifty at 5240-5260 levels with target price of 5175 and stop-loss can be maintained at 5310.
Our pair trade strategies for Kotak Bank and SBI is giving good gains at the moment, though, it has not reached its concluded levels. The other pair trade strategy for Tata Motors and M&M has not performed, but I am quite hopeful that M&M can see correction coming in soon.
Wishing you a great trading day tomorrow!!!
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