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The Nifty50 index has breached the crucial support of 14,753, which happened to be the previous top on the daily Chart. It has also violated the supports derived from 5, 10 and 20 days SMA. RSI oscillator has also exited overbought zone with negative divergence on the daily chart. However, we can not rule out the stock specific bullish moves. Current market setup is offering trading opportunities in both directions. As far as Nifty is concerned 15,000-15,100 is a zone, which should be utilized to lighten the trading long commitments. Support for the Nifty is seen at 14,336 odd levels, where 50 days EMA is placed. ....
Read more about Trading tips by Ajit Mishra of Religare Broking: Buy HPCL, Petronet NLG on Business Standard. Hindpetro has witnessed a strong rebound after forming a base above the support zone of moving averages ribbon on multiple time frames ....
Buy IOC Feb 100 Call at Rs 2.30 & simultaneously sell Feb 105 Call at Rs 0.95 Lot Size 6500 Maximum profit Rs 23725 If IOC closes at or above 105 on 25 Feb expiry. Breakeven Point Rs 101.35 Rationale: Long build up was seen in the IOC Futures’ where we have seen 12 per cent (Prov) rise in the Open Interest with price rising by 4 per cent. The stock price has broken out on the daily chart (Adjusted for dividend) where it closed at highest level since March 2020 with higher volumes Plus DI has crossed the Minus DI, indicating strength in the current uptrend The primary trend of the stock is positive where it is trading above its all-important moving averages. ....
Stop loss: 450 LIC Housing Finance has witnessed a fresh breakout of late, after spending nearly a month in a consolidation range. Besides, it has also surpassed the hurdle of the declining trendline on the weekly chart. All indications are in the favor of prevailing momentum to continue. Traders should not miss this opportunity and accumulate in the mentioned range. ======================================== Disclaimer: Ajit Mishra is VP - Research at Religare Broking Dear Reader, Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated w ....
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