Nifty futures chart suggest a bounce till 2950 levels. The December 2900 put has seen profit booking and there is a huge built up in December 2900 calls. This data suggest market will cross 2900 levels. But there is less activity around 3000 December calls. Hence we predict that nifty might face resistance close to 2950 levels. The 20 day EMA is also close to that levels. Hence now we can start buying in to nifty futures and book profits close to 2930 levels.
Bajaj Hindustan and Bombay dyeing is showing signs of bounce. Bajaj Hindustan should be bought with stop at 40 , while Bombay dyeing can be bought with stop at 150.
Hope all would enjoyed all the short calls given last week.
Please post your queries in the comment coloum on any stocks.
Happy trading
Samm Inc
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