Market out look for 16th Feb.

Market out look for 16th Feb

Market trend is Down
No Long side.... Rise to Sell Side
Stop Loss for  Short............8820

Market trend is continue in trading range between 8710 to 8830, however at higher level, some selling and profit booking seen in the market and also some reversal seen from the lower level 8715 but at higher level again selling and finally closed with a negative bias which indicate at higher side market unable to move.

At the same in Bank Nifty continue holding support 20100 2150 and resistance 20400........but in front line stocks like, SBI, ICICI Bank, Bank of Baroda, PNB, selling whereas buying observed in Axis Bank and HDFC Bank,.

As far as concerned in the market tomorrow will be weekly expiry of Bank Nifty so high volatility can not be ruled out. What we do on the eve of Expiry.
Concentrate 20000 call of expiry and panic to buy side with tight stop loss and as and when getting profit to be exit.

Try to sell on rise or write of call option of expiry like
20300 20400 20500 call ultimate it will be available on 5 paisa but any trade should be strict stop loss.

As regards the FO data indicate, in Nifty Future almost 10 per cent which is short side.
Long side......IGL, ITC, TCS AND Mahindra and Mahindra
Short Side.... HPCL VOLTAS, TELCO AND TATA DVR
Short covering - LIC Housing
Long Unwinding - Bharaft Fore and PC Jewellers
Now today watch out some stocks which looks strength and likely some up move due to positive closed as well as added some open interest in long side.

Reliance Industries
Axis Bank
HDFC Bank

Play for short on rise..

DLF
Tata Motor
Tata DVR
HDIL
HPCL
Arvind Ltd
Bank of Baroda

Tata Steel
SBI
and many more...

For more details call 9630466296

or visit 3m team.in