12 C
Delhi
Sunday, January 17, 2021
Home Stocks Day trading guide for Thursday

Day trading guide for Thursday

IIFL Securities

Technical view: Outlook on Nifty Bank
Analyst: Technicals: Jayesh Bhanushali, Sr. Derivative & Technical Research Analyst

Nifty Bank index witnessed a constructive day of commerce throughout the Wednesday’s session and is trading in a robust greater prime greater backside chart construction. Majority of its constituents together with choose PSU bank shares have added continued lengthy positions throughout the January collection, indicating a constructive bias. The index has hit a recent lifetime excessive after a niche of greater than a yr and has given a consolidation breakout on the hourly charts. We count on the index to regularly transfer greater as much as 33,500 ranges throughout the January collection.

Stock Reco. CMP (Rs) Target (Rs) Stop Loss (Rs) Note
Quess Corp Buy 567 625 535 Stock has given a Golden Crossover (89/200 Dema) and a consolidation breakout on the every day chart.
Bank of Baroda Buy 75 80 72 Stock has given a Flag sample breakout on the every day chart.
Bandhan Bank Sell (Fut) 377 360 392 Stock has given a double prime breakdown on the every day chart.

F&O Strategy
Analyst: Rupak De, Senior Research Analyst

Axis Bank moved above its earlier consolidation excessive on the every day chart suggesting an increase in optimism. The momentum indicator is having a constructive crossover. On the choice entrance, name writers have shifted their place from 680 strike to 700 and better strike value, indicating a closing above 700 on expiry.

Trade

(Hold until expiry) Buy 1 lot Axis Bank 28 Jan 680CE @ Rs30

  • Sell 1 lot Axis Bank 28 Jan 700 CE @ Rs 21
  • Sell 1 lot Axis Bank 28 Jan 730CE @ Rs11
  • Net Premium influx Rs2/lot (credit score/approx)
  • Stop loss: Rs2/lot (Debit)
  • Maximum Profit: Rs 22/lot (approx)

Futures:

Buy Apollo Tyre Jan Future at Rs 192-193

  • Stop Loss: Rs 196.60
  • Target: Rs 178

Commodity Calls

Analyst: Rupak De, Senior Research Analyst

Commodity Exchange Strategy
Gold (Feb) MCX Buy in vary 49,150-49250
SL: Below 49,000

Target: 49,400/49,550

Crude Oil (Jan) MCX Sell in vary 3,950-3,960
SL: 4,000
Target: 3,900/3,840
Copper (Jan) MCX Sell within the vary 612-613
SL: 617
Target: 607/602

Forex
Technical

Analyst: Rupak De, Senior Research Analyst


USD/INR Status: Likely to maneuver in the direction of 74 ranges

  • Call for the day: Go lengthy in Jan future round 73.10
  • Target: 74
  • Stop Loss: 72.80

GBP/INR Status: Likely to maneuver in the direction of 101 ranges

  • Call for the day: Go lengthy in Jan future round 100
  • Target: 101
  • Stop Loss: 99.49

Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Akshay Kumar donates for construction of Ayodhya’s Ram Mandir, urges everyone to contribute; watch

Mumbai: Bollywood actor Akshay Kumar on Sunday (January 17, 2021) said that he has donated for the construction of Ayodhya's Ram Mandir. The 53-year...

5 Health Drinks to Keep You Warm During Winter

In the winter months, many of us gravitate towards a cup of tea, coffee or a glass of cow or buffalo milk to stay...

BharatPe raises Rs 139 cr debt from Alteria Capital, ICICI Bank

NEW DELHI: Fintech firm BharatPe on Sunday stated it has raised Rs 139 crore (about USD 20 million) in debt from enterprise debt agency...

Tweet Buster: What Zerodha’s survey on Tesla found; plus, Nilesh Shah’s path to nirvana from PE

NEW DELHI: The week passed by had two excellent news: Fantastic numbers from IT majors and the start of the vaccination drive in India....

Recent Comments