Sluggish trade we have seen in Nifty and Bank Nifty but we minted money in BTST Caplipoint and JSLHISAR. Below we have morning equity updates on Nifty, Bank Nifty, Advance Enzymes, VRLLOG, Chambel Fertilizer, and GRSE; keep an eye on it.
JSLHISAR from 270>>>294. Booked profit around 285
CAPLIPOINT from 919>>>949. Booked around 942
Nifty Futures; Last close 15818
In the morning equity update in Nifty…
Below 15771… Sell it for the downside target of 15709—15656—15585 levels.
Resistance levels in Nifty futures at the top are 15860—15900—15960.
Nifty is trading in a rectangle box pattern with an approx range of 350 points.
Either side break or close with volume will decide further.
RSI is also stable on the daily as well as on the hourly chart but trading above 21DEMA and 55DEMA moving average.
Therefore, we recommend our traders to trade as per the levels given above.
Any reversal seems then surely we will update.
Bank Nifty; 34959.15
In the morning equity update in Bank Nifty…
Above 35200… it could test 35500—35600 levels.
Good selling opportunity could arise around 35500—35600 levels with stop loss above 36100.
The downside target looks 34400—34000.
Bank Nifty is showing negative diversion on the daily as well as on the hourly chart.
Hence, we recommend our traders and investors that don’t go for aggressive buying in Bank Nifty at higher levels as it looks weak on the chart.
ADVENZYMES
Above 410… Catch it with the stop loss below 400.
The upside target looks 419—423 and then to 437 levels
VRLLOG
Grab it in the range of 308—305 for the upside target of 319—324
Maintain stop loss below 295
CHAMBAL FERILIZER
Hurdle at 321
Decisive break and sustain above 321 will take it to 346—355 levels in days to come.
Maintain stop loss below 300 on a closing basis.
GRSE
Grab GRSE at the opening bell… Immediate hurdle at 213
Once crosses 213 then move forward till 226—231+++ levels in days to come.
Support and stop loss below 197.50 on a closing basis.
Index Option Call
Buy Nifty 15800 PE above 65.00. Stop loss below 40.00. Target 90—120