Price Action Trading : 01-Jun-2016

Vedanta: stock closed at 108 yesterday (31-May-2016)
Today the trading range could be anywhere between 104-114.

if the stock opens near 108, keep buy order at / near 105 and exit part qty at 109 and remaining qty at/near 112-114. stop loss will be at 100

if the stock opens to cross 110, keep buy order at / near 109 and exit part qty at/near 114 and rest at/near 117. stop loss will be at 107

Option data shows stock is trying to go upto 119-120 with support forming at 90-100

Nifty Analysis

Date: 11-Mar-2016
Nifty opened higher but remained down most of the time, it closed at 7486...about 45 points lower.
In the opening session the important levels to watch will be 7475 and 7505
Any breach of this trading range will take Nifty to 7430-7401 on the lower side and 7544-7550 on the upperside.

If markets remain strong and If Nifty crosses 7550 easily then I expect it to give a good 200 points upward move.

Option Analysis

Date: 10-Mar-2016
Yesterday Nifty Closed at 7531 after making a low of 7424.
7500 is an important round figure, If it remains above this figure it will try to go for 7750 - 7800. Put writers are betting big on 7500 level, twice as much as Call writers  bet at 7500.
7300 on low side and 7800 on the higher side is what Nifty will remain for the moment.
If market surprises the bulls then we may get to see 7350 else 7800 is most likely the next target for Nifty

Yes Bank: Yesterday it closed at 790. Option data seems to show activity in 840 and  740-760 level. If it crosses 800 comfortably, it may target 845-849 in near term.
on the low side 750 level will form support.

Stocks to watch in March 2016

Date: 2-Mar-2016
ABAN OFFSHORE: closed at 162 yesterday after making a low of 157.1
Shorts are being trapped as it broke 157 couple of days back to make a low of 156 and has bounced back. crossing 160 teritory successfuly now it may start targeting 164-167.4-169-172.4-174-177.4 and finally 179

TATA MOTORS: seems to be a good buy between 290-305 for target of 324-339. It is likely to face resistance when it comes near 324 to 339.

TECH MAHINDRA: cmp is 430. From the option data and the chart patterns it looks 410 region is forming a good support for this stock and if it is able to hold 410-430 region, it may try to target 470-490 soon. on the way it may give a pause near 450 to decide the trend. Option sellers are targeting 480 though which is a good 11% from current levels.

Stocks to watch in Jan 2016

Date: 12-Jan-16
Tech Mahindra Option data seems to show signs of bouncing back from its current close of 507. It may touch 524-529 and then 534-539.  It may achieve these targets in Jan itself. Stock delivery position has also increased with 72% shares taken in delivery.
Best buy will be at 501. Keep stop loss at 500.

Tata motors option data also seem to show bullish stance...however the stock range seem to be from 330 to 400. It has closed at 360. Best buy will be when it retraces upto 345-350 keeping stop loss of 330 for a first target of 374-379 and second target of 394-399

Stocks to watch

Watch Adani Ports, State Bank of India and Yes Bank for swing trading oportunities.

State bank @ 239 looks good to go long, buy in the range of 234-239 for a target of 254-259, keep stop loss of 229. Holding period 10-15 days.

Yes Bank @783 may show some resistance in 790-810 levels, trade for shorting opportunities with caution. the stock is likely to correct from current levels upto 710-730. Do not go long in this stock.

Adani Ports @289 is at the crux of eiether shooting up or crashing. Keep a watch and trade accordingly. The range for Adani ports is 270 to 320

Axis Bank Option Trade