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Lok Sabha Election Results 2024: Experts anticipate high volatility on election result day. Nifty could see further gains if results match exit polls, but selling pressure if below expectations.
Among the constituents of Nifty Auto, M&M has broken out of a 13-day consolidation phase on a daily scale. The daily and weekly RSI are in the bullish zone according to RSI range shift rules.
Nifty options radar suggests a Bull Call spread during election uncertainty. Trading within 22,700 - 22,400 range. Shrey Jain recommends a strategy with max loss at Rs 826 and potential profit up to Rs 4,174. Positive trend indicated by MACD Index and MA levels.
Stoxbox recommends taking a long position in 212.50 CE above 9.50, keeping 4 as an immediate support and targeting 20 and 24 as profit levels
Shubham Agarwal explains a couple of ways to deal with this difficulty by bargain hunting with the help of Options.