Share Market Updates: Sensex, Nifty End Flat On Caution Ahead Of US Fed Meet Outcome; Real Estate Shares Outperform ndtv.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ndtv.com Daily Mail and Mail on Sunday newspapers.
What should investors do?
Within Nifty there will be sectorial level rotations and we expect underperformance from the banking index as Bank Nifty has significant resistance at 36,000; meaningful upsides would happen only if the Bank Nifty is able to take out this level. Traders can initiate short strangle option strategy in Nifty by selling 15,700 put and 16,150 call for July 22 weekly expiry. Among stocks, MCX can be bought for a 25% upside/10% stop loss for the next 3-4 months as the price has exceeded the falling channel pattern with a bullish candle on a volume surge indicating strong breakout.
Rahul Sharma, Head, Techniical & Derivatives Research, JM Financial
What should investors do?
Nifty is expected to consolidate until it breaches 15,660 or 15,915 on either side. Traders can look to buy ATM (at the money) call options near support levels for Nifty targets of 15,850/15,915. Positional traders can initiate a short strangle in July monthly expiry with 15,500 Puts and 16,000 Calls, combined premium of which is around Rs 175. One can maintain a stop loss of 16,200 and 15,300 for the strangle. The sectors which are exhibiting strength are PSUs, pharma/healthcare and auto. Our top delivery picks are
Tata Power (stop loss Rs 110) and
Tata Motors (stop loss Rs 290) for a potential upside of 15% to 20% from the current levels.
Bulls continued their March on Dalal Street for the second straight session today amid a rally in global markets, fall in daily coronavirus cases below 1 lakh for the fourth consecutive day and early arrival of monsoon in the country. Sensex zoomed 341
by Tyler Durden
In the old normal - when dinosaurs roamed the earth - history suggested that
when retail investors piled into stocks with both hands and feet, a major top in prices was usually not far behind.
But, in the new normal of Reddit Rebels and Meme Stock Manias, it is the little guy that is making the Smart money look Dumb as stock after stock is lifted out of obscurity - or from the brink of bankruptcy - by a wave of WSB-buyers, crushing the well-reasoned theses of asset-gatherers and commission-takers everywhere as worthless stonks go to the moon.